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

MediaCo Holding Inc. (NASDAQ:MDIA) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 37,396 shares, a decline of 30.2% from the December 15th total of 53,541 shares. Based on an average daily trading volume, of 44,301 shares, the short-interest ratio is currently 0.8 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 44,301 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. purchased a new position in MediaCo Holding Inc. (NASDAQ:MDIA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,937,881 shares of the company’s stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned 2.37% of MediaCo at the end of the most recent reporting period. Institutional investors own 64.01% of the company’s stock.

MediaCo Price Performance

Shares of MDIA traded up $0.01 during midday trading on Monday, hitting $0.64. The stock had a trading volume of 44,926 shares, compared to its average volume of 49,393. The stock’s 50 day moving average is $0.76 and its 200 day moving average is $1.09. The firm has a market cap of $51.97 million, a PE ratio of -1.18 and a beta of -0.26. MediaCo has a 1 year low of $0.57 and a 1 year high of $1.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of MediaCo in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, MediaCo currently has an average rating of “Sell”.

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.