Short Interest in MediaCo Holding Inc. (NASDAQ:MDIA) Grows By 50.8%

MediaCo Holding Inc. (NASDAQ:MDIA) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 56,386 shares, an increase of 50.8% from the December 31st total of 37,396 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 49,781 shares, the short-interest ratio is presently 1.1 days. Based on an average daily trading volume, of 49,781 shares, the short-interest ratio is presently 1.1 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

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

MediaCo Price Performance

Shares of MediaCo stock traded up $0.01 during midday trading on Friday, hitting $0.67. The company had a trading volume of 55,135 shares, compared to its average volume of 149,009. The stock has a market cap of $54.76 million, a PE ratio of -1.24 and a beta of -0.26. The business’s 50 day simple moving average is $0.71 and its two-hundred day simple moving average is $1.05. MediaCo has a 1-year low of $0.57 and a 1-year high of $1.60.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MediaCo in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, MediaCo presently has an average rating of “Sell”.

About MediaCo

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.