MediaCo (NASDAQ:MDIA) Issues Quarterly Earnings Results

MediaCo (NASDAQ:MDIA) released its quarterly earnings results on Friday. The company reported ($0.11) earnings per share for the quarter, FiscalAI reports. The company had revenue of $31.39 million for the quarter.

MediaCo Stock Up 0.8%

NASDAQ:MDIA opened at $0.95 on Friday. The stock has a market cap of $77.49 million, a P/E ratio of -1.12 and a beta of 0.12. The firm’s fifty day simple moving average is $0.78 and its 200 day simple moving average is $0.76. MediaCo has a twelve month low of $0.54 and a twelve month high of $1.60.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of MediaCo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of MediaCo

An institutional investor recently bought a new position in MediaCo stock. JPMorgan Chase & Co. bought a new stake in shares of MediaCo Holding Inc. (NASDAQ:MDIA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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. 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.