MediaCo (NASDAQ:MDIA) Trading Up 2.3% - Still a Buy?

Key Points

• Shares rose 2.3% to $0.7342 on Monday, but trading was thin — about 8,668 shares exchanged hands, an 87% drop from the stock’s average daily volume.
• Analysts maintain a consensus "Sell" rating (Weiss Ratings reiterated a "sell (d)"), and the company reported a quarterly loss of $0.40 per share on $38.66 million in revenue, leaving a negative P/E and a $60.09 million market cap.
• Despite the sell ratings, institutional interest exists: JPMorgan Chase disclosed a new stake of 1,937,881 shares (about 3.61%), and institutions own roughly 64.01% of the stock.

Shares of MediaCo Holding Inc. (NASDAQ:MDIA - Get Free Report) were up 2.3% on Monday . The stock traded as high as $0.75 and last traded at $0.7342. Approximately 8,668 shares were traded during trading, a decline of 87% from the average daily volume of 64,932 shares. The stock had previously closed at $0.7179.

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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell".

MediaCo Price Performance

The firm has a fifty day simple moving average of $0.64 and a 200 day simple moving average of $0.83. The company has a market capitalization of $60.09 million, a price-to-earnings ratio of -0.86 and a beta of -0.15.

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

Institutional Trading of MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. acquired a new stake in MediaCo Holding Inc. (NASDAQ:MDIA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,937,881 shares of the company's stock, valued at approximately $2,461,000. JPMorgan Chase & Co. owned 3.61% of MediaCo at the end of the most recent quarter. Institutional investors and hedge funds own 64.01% of the company's stock.

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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