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

MediaCo Holding Inc. (NASDAQ:MDIAGet Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 12,520 shares, a decrease of 79.1% from the June 30th total of 59,945 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 61,179 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on MDIA

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new stake in MediaCo stock. JPMorgan Chase & Co. bought a new stake in shares of MediaCo Holding Inc. (NASDAQ:MDIAFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned approximately 3.61% of MediaCo as of its most recent SEC filing. Institutional investors own 64.01% of the company’s stock.

MediaCo Trading Down 2.0%

MediaCo stock opened at $1.00 on Friday. The firm has a 50-day moving average of $0.90 and a 200-day moving average of $0.78. The firm has a market cap of $81.73 million, a P/E ratio of -1.19 and a beta of 0.05. MediaCo has a 1-year low of $0.54 and a 1-year high of $1.64.

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

About MediaCo

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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.

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