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

Key Points

• Short interest in MediaCo fell by 24.5% in April to 40,464 shares as of April 15, with a days-to-cover ratio of 0.8 and roughly 0.0% of shares sold short.
• Weiss Ratings reaffirmed a Sell rating and the stock carries an average "Sell" consensus; MediaCo reported a quarterly loss of $0.40 per share on $38.66 million in revenue.
• Citadel Advisors LLC established a new position of 32,354 shares (about $41,000), institutional investors now own 64.01% of the company, and the stock was trading near $0.92 with a market cap of $75.19 million.

MediaCo Holding Inc. (NASDAQ:MDIA - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 40,464 shares, a decrease of 24.5% from the March 31st total of 53,581 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 53,154 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of MediaCo in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Hedge Funds Weigh In On MediaCo

An institutional investor recently bought a new position in MediaCo stock. Citadel Advisors LLC bought a new position in shares of MediaCo Holding Inc. (NASDAQ:MDIA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,354 shares of the company's stock, valued at approximately $41,000. Citadel Advisors LLC owned about 0.06% of MediaCo as of its most recent SEC filing. Institutional investors own 64.01% of the company's stock.

MediaCo Trading Down 2.1%

MediaCo stock traded down $0.02 during mid-day trading on Wednesday, reaching $0.92. The company had a trading volume of 6,908 shares, compared to its average volume of 60,241. MediaCo has a fifty-two week low of $0.54 and a fifty-two week high of $1.60. The company has a market cap of $75.19 million, a P/E ratio of -1.08 and a beta of -0.15. The business has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.78.

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

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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