MediaCo (NASDAQ:MDIA) Trading 1.6% Higher – Here’s Why

MediaCo Holding Inc. (NASDAQ:MDIA) traded up 1.6% during mid-day trading on Wednesday . The company traded as high as $1.35 and last traded at $1.30. 22,221 shares traded hands during trading, a decline of 98% from the average session volume of 1,214,146 shares. The stock had previously closed at $1.28.

MediaCo Trading Up 1.6 %

The company has a market capitalization of $60.67 million, a price-to-earnings ratio of -0.72 and a beta of -0.03. The firm has a 50-day moving average price of $1.31 and a 200-day moving average price of $2.33.

MediaCo (NASDAQ:MDIA) last issued its quarterly earnings results on Wednesday, September 18th. The company reported ($0.75) earnings per share (EPS) for the quarter. The firm had revenue of $26.20 million during the quarter.

Hedge Funds Weigh In On MediaCo

Several hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of MediaCo in the 3rd quarter worth $228,000. Jane Street Group LLC acquired a new position in shares of MediaCo in the 3rd quarter worth $67,000. Finally, XTX Topco Ltd acquired a new stake in shares of MediaCo in the second quarter worth $53,000. 64.01% of the stock is currently owned by institutional investors and hedge funds.

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.