MediaCo Holding Inc. (NASDAQ:MDIA) Sees Large Growth in Short Interest

MediaCo Holding Inc. (NASDAQ:MDIA) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 82,739 shares, an increase of 135.4% from the May 31st total of 35,146 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 426,138 shares, the short-interest ratio is presently 0.2 days.

MediaCo Stock Performance

Shares of MediaCo stock traded up $0.07 on Tuesday, reaching $0.99. 87,837 shares of the stock were exchanged, compared to its average volume of 90,515. The firm’s 50 day moving average is $0.86 and its 200-day moving average is $0.73. MediaCo has a one year low of $0.54 and a one year high of $1.64. The firm has a market cap of $80.58 million, a PE ratio of -1.17 and a beta of 0.08.

MediaCo (NASDAQ:MDIA) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. The company had revenue of $31.39 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. purchased a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned approximately 2.37% of MediaCo as of its most recent filing with the SEC. Institutional investors own 64.01% of the company’s stock.

MediaCo Company Profile

MediaCo Holding Inc owns and operates radio stations in the United States. The company engages in the operation of WQHT-FM and WBLS-FM radio stations in the New York City area. It also offers digital advertising, and events, which includes sponsorships, ticket sales, licensing, and syndication services. MediaCo Holding Inc was incorporated in 2019 and is headquartered in New York, New York.