MediaCo Holding Inc. (NASDAQ:MDIA) Short Interest Down 79.1% in July

MediaCo Holding Inc. (NASDAQ:MDIA) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 12,520 shares, a decline of 79.1% from the June 30th total of 59,945 shares. Based on an average daily trading volume, of 61,179 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new stake in MediaCo stock. JPMorgan Chase & Co. purchased a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 and Exchange Commission. 64.01% of the stock is currently owned by institutional investors.

MediaCo Stock Performance

MDIA stock traded down $0.02 during trading on Friday, hitting $1.00. The stock had a trading volume of 3,395 shares, compared to its average volume of 84,885. The company’s 50 day moving average price is $0.90 and its two-hundred day moving average price is $0.78. The stock has a market cap of $81.73 million, a price-to-earnings 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:MDIA) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $31.39 million during the quarter.

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.