MediaCo Holding Inc. (NASDAQ:MDIA) Sees Significant Increase in Short Interest

MediaCo Holding Inc. (NASDAQ:MDIA) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 12,718 shares, an increase of 88.2% from the August 31st total of 6,757 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 15,692 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised MediaCo from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

MediaCo Stock Performance

Shares of MDIA traded down $0.04 during mid-day trading on Wednesday, hitting $1.04. 1,585 shares of the company traded hands, compared to its average volume of 67,945. The stock has a market cap of $87.38 million, a price-to-earnings ratio of -1.25 and a beta of -0.05. The stock has a 50-day moving average price of $1.05 and a two-hundred day moving average price of $0.92. MediaCo has a 1 year low of $0.54 and a 1 year high of $1.64.

MediaCo (NASDAQ:MDIA) last issued its earnings results on Friday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $33.97 million for the quarter.

Institutional Trading of MediaCo

A hedge fund recently bought a new stake in MediaCo stock. Citadel Advisors LLC bought a new stake in MediaCo Holding Inc. (NASDAQ:MDIA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,302 shares of the company’s stock, valued at approximately $28,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

About MediaCo

MediaCo Holding, Inc (NASDAQ: MDIA) is a media and entertainment company focused on audio broadcasting and digital media. The company develops, distributes and monetizes music, news, talk and cultural programming through its radio and digital platforms, while also providing advertising and promotional opportunities for businesses and organizations.

MediaCo’s principal broadcast properties include WQHT-FM, known as Hot 97, and WBLS-FM, two longstanding urban-format radio stations serving the New York metropolitan area.