In a recent transaction, a director of Emmis Corp, who is also a significant shareholder, sold 10,781 shares of Mediaco Holding Inc. (NASDAQ:MDIA), a company operating in the radio broadcasting industry. This sale occurred on May 22, 2024, with the shares sold at a price of $1.25 each, resulting in a total transaction value of $13,476.
The transaction was disclosed in a filing with the Securities and Exchange Commission. Following this sale, the director still holds a substantial number of shares in Mediaco Holding Inc., with a total of 306,473 shares remaining in their possession.
Investors often keep an eye on insider transactions as they can provide insights into a company's financial health and future prospects. The sale by a director of Emmis Corp, who is also a ten percent owner, might be of particular interest to the market.
Mediaco Holding Inc., headquartered in New York, is known for its presence in the radio broadcasting sector. The company's Class A Common Stock is traded under the ticker symbol MDIA on the NASDAQ.
The details of this transaction have been made public as part of the regulatory requirements for insider trading activities. It is worth noting that insider sales can occur for various reasons and may not necessarily reflect a negative outlook on the company's future by the insider.
InvestingPro Insights
As Mediaco Holding Inc. (NASDAQ:MDIA) experiences insider trading activity, it's important for investors to consider the broader financial landscape of the company. According to real-time data from InvestingPro, Mediaco Holding's market capitalization stands at 55.77 million USD, indicating its size within the radio broadcasting industry.
Investors might be concerned with the company's recent performance metrics. The stock has witnessed a significant price decline of 44.22% over the last month, aligning with the InvestingPro Tip that the stock has taken a big hit over the last week. This sell-off comes despite a strong return over the last three months, with a 111.35% price total return, suggesting a volatile period for the stock. Furthermore, the company's P/E ratio is currently negative at -4.96, based on the last twelve months as of Q1 2024, possibly reflecting market skepticism about future earnings.
Mediaco Holding has been grappling with profitability challenges, as evidenced by a negative gross profit margin of -1.9% for the same period. This aligns with another InvestingPro Tip, which points out the company's weak gross profit margins. Investors considering the stock should be aware of these financial health indicators and may find additional insights by exploring the 10 InvestingPro Tips available for MDIA at https://www.investing.com/pro/MDIA. For those interested in a deeper analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.