Emmis Communications Co. (NASDAQ:EMMS) Short Interest Up 73.3% in June
Emmis Communications Co. (NASDAQ:EMMS) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 15,600 shares, an increase of 73.3% from the May 30th total of 9,000 shares. Based on an average daily trading volume, of 31,300 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.
In related news, insider Gregory T. Loewen sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $6.50, for a total transaction of $48,750.00. Following the completion of the sale, the insider now directly owns 122,146 shares of the company’s stock, valued at $793,949. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 32.30% of the company’s stock.
Several equities research analysts have commented on the stock. ValuEngine downgraded shares of Virtu Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. TheStreet downgraded shares of Zumiez from a “b” rating to a “c+” rating in a research note on Thursday, June 6th.
Emmis Communications (NASDAQ:EMMS) last issued its earnings results on Thursday, May 9th. The company reported ($0.04) EPS for the quarter. Emmis Communications had a net margin of 20.46% and a return on equity of 23.10%. The firm had revenue of $23.75 million during the quarter.
Emmis Communications Company Profile
Emmis Communications Corporation, a diversified media company, engages in radio broadcasting activities in the United States. The company operates in three segments: Radio, Publishing, and Corporate & Emerging Technologies. It operates 11 FM and 3 AM radio stations in New York, Los Angeles, Indianapolis, and Austin, as well as publishes Indianapolis monthly magazine.
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