Urban One Inc (NASDAQ:UONE) shares were down 13.2% on Monday after an insider sold shares in the company. The company traded as low as $20.00 and last traded at $18.02, approximately 13,076 shares changed hands during mid-day trading. A decline of 100% from the average daily volume of 9,393,065 shares. The stock had previously closed at $20.75.
Specifically, CFO Peter Thompson sold 65,098 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $3.35, for a total transaction of $218,078.30. Following the sale, the chief financial officer now directly owns 319,904 shares of the company’s stock, valued at approximately $1,071,678.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Brigade Leveraged Capital Stru sold 3,938,161 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $0.76, for a total transaction of $2,993,002.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,156,875 shares of company stock worth $24,203,427. 79.31% of the stock is currently owned by corporate insiders.
UONE has been the topic of a number of recent analyst reports. ValuEngine cut Urban One from a “hold” rating to a “sell” rating in a report on Monday, June 15th. TheStreet raised shares of Urban One from a “d” rating to a “c-” rating in a research note on Tuesday, June 16th.
About Urban One (NASDAQ:UONE)
Urban One, Inc, together with its subsidiaries, operates as an urban-oriented multi-media company in the United States. The company operates through four segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment includes radio broadcasting operations that primarily target African-American and urban listeners.
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