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

MediaCo Holding Inc. (NASDAQ:MDIA) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 4,300 shares, a drop of 84.9% from the February 29th total of 28,400 shares. Based on an average daily volume of 57,000 shares, the short-interest ratio is currently 0.1 days.

MediaCo Stock Performance

Shares of NASDAQ MDIA traded up $0.21 during trading on Wednesday, hitting $0.64. The company had a trading volume of 210,446 shares, compared to its average volume of 65,470. The company has a market cap of $16.87 million, a P/E ratio of -0.35 and a beta of 0.55. MediaCo has a 52 week low of $0.40 and a 52 week high of $1.76. The business’s 50-day moving average is $0.52 and its 200 day moving average is $0.59.

Institutional Trading of MediaCo

A number of institutional investors and hedge funds have recently made changes to their positions in MDIA. Standard General L.P. raised its position in shares of MediaCo by 24.7% in the fourth quarter. Standard General L.P. now owns 16,798,127 shares of the company’s stock valued at $19,293,000 after purchasing an additional 3,328,728 shares during the period. Vanguard Group Inc. grew its holdings in shares of MediaCo by 79.9% during the 3rd quarter. Vanguard Group Inc. now owns 181,966 shares of the company’s stock worth $331,000 after purchasing an additional 80,841 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of MediaCo by 1,707.5% in the 1st quarter. UBS Group AG now owns 16,846 shares of the company’s stock valued at $70,000 after buying an additional 15,914 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.

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 owns and operates advertising displays, such as bulletins, posters, and digital billboards primarily in Georgia, Alabama, South Carolina, Florida, Kentucky, West Virginia, and Ohio.