JPMorgan Chase & Co. Invests $2.46 Million in MediaCo Holding Inc. $MDIA

Key Points

• JPMorgan Chase bought a new position of 1,937,881 shares (~$2.46 million), representing about 2.37% of MediaCo at the end of the quarter.
• Analyst sentiment is negative: Weiss Ratings reiterated a "Sell" rating and MarketBeat shows a consensus rating of Sell.
• MediaCo is small and loss-making—market cap ~$60.1 million, stock trading between $0.54–$1.60 over 12 months, and reported EPS of -$0.40 on $38.66 million in quarterly revenue.

JPMorgan Chase & Co. bought a new position in MediaCo Holding Inc. (NASDAQ:MDIA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,937,881 shares of the company's stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned approximately 2.37% of MediaCo at the end of the most recent quarter.

Separately, Citadel Advisors LLC acquired a new position in shares of MediaCo in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 64.01% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of MediaCo in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, MediaCo currently has a consensus rating of "Sell".

MediaCo Price Performance

NASDAQ:MDIA opened at $0.73 on Tuesday. MediaCo Holding Inc. has a 12-month low of $0.54 and a 12-month high of $1.60. The firm has a market capitalization of $60.09 million, a P/E ratio of -0.86 and a beta of -0.15. The business has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $0.83.

MediaCo (NASDAQ:MDIA - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.40) earnings per share (EPS) for the quarter. The company had revenue of $38.66 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.

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