Short Interest in MediaCo Holding Inc. (NASDAQ:MDIA) Rises By 135.4%

MediaCo Holding Inc. (NASDAQ:MDIA) was the recipient 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. Based on an average daily volume of 426,138 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

MediaCo Price Performance

NASDAQ MDIA traded up $0.00 during mid-day trading on Monday, hitting $0.92. The company’s stock had a trading volume of 40,980 shares, compared to its average volume of 90,523. MediaCo has a 52-week low of $0.54 and a 52-week high of $1.64. The stock’s fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $0.73. The firm has a market capitalization of $74.85 million, a P/E ratio of -1.09 and a beta of 0.08.

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of MediaCo from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of MediaCo

A hedge fund recently bought a new position in MediaCo stock. Citadel Advisors LLC acquired a new stake in MediaCo Holding Inc. (NASDAQ:MDIA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,354 shares of the company’s stock, valued at approximately $41,000. Citadel Advisors LLC owned 0.06% of MediaCo at the end of the most recent reporting period. 64.01% of the stock is owned by hedge funds and other institutional investors.

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.