Urban One Inc (NASDAQ:UONEK)’s stock price dropped 3.4% during trading on Monday . The company traded as low as $1.70 and last traded at $1.69, approximately 24,812 shares were traded during trading. A decline of 100% from the average daily volume of 15,836,402 shares. The stock had previously closed at $1.75.
Separately, ValuEngine upgraded shares of Urban One from a “sell” rating to a “hold” rating in a report on Saturday.
The stock’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.49. The stock has a market capitalization of $79.50 million, a PE ratio of -3.84 and a beta of 0.85. The company has a debt-to-equity ratio of 5.74, a quick ratio of 2.11 and a current ratio of 2.11.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of Urban One by 53.5% in the 1st quarter. Morgan Stanley now owns 107,998 shares of the company’s stock worth $103,000 after purchasing an additional 37,640 shares during the period. Zazove Associates LLC lifted its stake in shares of Urban One by 1.0% in the 1st quarter. Zazove Associates LLC now owns 3,366,321 shares of the company’s stock worth $3,333,000 after purchasing an additional 32,493 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Urban One by 0.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,492,546 shares of the company’s stock worth $2,836,000 after purchasing an additional 8,899 shares during the period. 31.02% of the stock is currently owned by hedge funds and other institutional investors.
Urban One Company Profile (NASDAQ:UONEK)
Urban One, Inc, together with its subsidiaries, operates as an urban-oriented multi-media company in the United States. The company operates through four segments: Radio Broadcasting, Reach Media, Digital, and Cable Television. The Radio Broadcasting segment includes radio broadcasting operations that primarily target African-American and urban listeners.
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