MediaCo (NASDAQ:MDIA) Posts Earnings Results

MediaCo (NASDAQ:MDIA) posted its quarterly earnings data on Friday. The company reported ($0.11) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $31.39 million for the quarter.

MediaCo Stock Performance

MDIA stock opened at $0.95 on Friday. MediaCo has a one year low of $0.54 and a one year high of $1.60. The company’s fifty day moving average price is $0.78 and its 200-day moving average price is $0.76. The company has a market capitalization of $77.49 million, a PE ratio of -1.12 and a beta of 0.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of MediaCo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. bought a new position in MediaCo Holding Inc. (NASDAQ:MDIA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 Securities & Exchange Commission. Institutional investors and hedge funds 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.