MediaCo Holding Inc. $MDIA Holdings Lowered by Standard General L.P.

Key Points

• Standard General trimmed its stake in MediaCo by 5.6% to 35,426,400 shares but still owns roughly 66% of the company (about $44.99M) and the stock represents its 2nd-largest holding at 10.8% of the fund's portfolio.
• JPMorgan opened a new position in MediaCo valued at about $2.46M, and institutional investors now hold roughly 64.01% of the stock.
• MDIA trades near $0.65 with a market cap of $53.2M and a negative P/E, and analysts rate the stock an average of "Sell" (Weiss Ratings reissued a "sell (d)").

Standard General L.P. trimmed its holdings in MediaCo Holding Inc. (NASDAQ:MDIA - Free Report) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,426,400 shares of the company's stock after selling 2,105,596 shares during the quarter. MediaCo accounts for about 10.8% of Standard General L.P.'s holdings, making the stock its 2nd biggest holding. Standard General L.P. owned approximately 65.99% of MediaCo worth $44,992,000 at the end of the most recent quarter.

Separately, JPMorgan Chase & Co. bought a new position in shares of MediaCo during the 3rd quarter valued at $2,461,000. 64.01% of the stock is currently owned by institutional investors.

MediaCo Price Performance

MDIA opened at $0.65 on Friday. The stock's 50 day simple moving average is $0.63 and its 200 day simple moving average is $0.92. The firm has a market cap of $53.19 million, a price-to-earnings ratio of -1.20 and a beta of -0.16. MediaCo Holding Inc. has a 1 year low of $0.54 and a 1 year high of $1.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of MediaCo in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, MediaCo 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.

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