MediaCo (NASDAQ:MDIA) Trading Down 1.7% – Here’s Why

MediaCo Holding Inc. (NASDAQ:MDIA)’s stock price dropped 1.7% during mid-day trading on Thursday . The stock traded as low as $1.13 and last traded at $1.14. Approximately 6,342 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 159,292 shares. The stock had previously closed at $1.16.

MediaCo Stock Performance

The stock has a fifty day moving average price of $1.13 and a 200 day moving average price of $1.53. The stock has a market cap of $55.54 million, a PE ratio of -0.66 and a beta of -0.07.

Institutional Investors Weigh In On MediaCo

An institutional investor recently bought a new position in MediaCo stock. Jane Street Group LLC purchased a new stake in shares of MediaCo Holding Inc. (NASDAQ:MDIA) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 52,279 shares of the company’s stock, valued at approximately $67,000. Jane Street Group LLC owned about 0.11% of MediaCo at the end of the most recent quarter. Institutional investors own 64.01% 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 also offers digital advertising, and events, which includes sponsorships, ticket sales, licensing, and syndication services.