In a recent transaction, a director and major shareholder of Mediaco Holding Inc. (NASDAQ:MDIA), Emmis Corp, has sold a significant number of shares in the company. The transaction, which took place over two separate dates, involved the sale of a total of 44,845 shares, resulting in proceeds of over $57,000 for the director.
On May 17, 2024, a sale of 4,547 shares was executed at a weighted average price of $1.46, with the price range for these sales being between $1.45 and $1.50. A subsequent sale on May 21, 2024, saw a larger quantity of 40,298 shares being sold at a lower weighted average price of $1.25, with a price range from $1.25 to $1.28.
Following these transactions, the director's remaining stake in Mediaco Holding Inc. consists of 317,254 shares. The sales have been publicly disclosed as per regulatory requirements, and further details regarding the exact number of shares sold at each price point are available upon request to the Securities and Exchange Commission or the company.
The director involved holds a significant position as both a member of the board and a ten-percent owner of the company, indicating that their transactions are closely watched by investors for indications of the company's performance and the director's confidence in its future prospects.
Mediaco Holding Inc., with its primary business in radio broadcasting stations, is incorporated in Indiana and has its business address in New York, NY. The company operates under the ticker symbol MDIA on the NASDAQ exchange.
InvestingPro Insights
Amid the recent share transactions by a prominent director at Mediaco Holding Inc. (NASDAQ:MDIA), investors may be looking for deeper insights into the company's performance and future outlook. According to InvestingPro, MDIA's stock has experienced significant price volatility, which is reflected in the high price volatility tip, as well as a strong return over the last three months, with a price total return of 151.39%. This could suggest a short-term positive sentiment among investors, despite the recent insider selling.
The company's financial health, however, raises some concerns as highlighted by the InvestingPro Tips. Mediaco Holding has been grappling with weak gross profit margins, which stood at -0.89% for the last twelve months as of Q1 2024. Additionally, the company did not turn a profit during this period, which may have implications for long-term shareholder value. The absence of dividend payments to shareholders also points towards the company's current prioritization of capital allocation.
As for the real-time metrics from InvestingPro, MDIA's market capitalization is relatively small at $52.81M USD, and the company operates with a moderate level of debt. These factors, combined with the reported revenue decline of -16.01% for the last twelve months as of Q1 2024, could be essential for investors considering the stability and growth prospects of Mediaco Holding.
Investors interested in a more comprehensive analysis can find additional InvestingPro Tips for MDIA at https://www.investing.com/pro/MDIA. To enhance their investment research, users may use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 6 more tips available on InvestingPro that could provide further insights into MDIA's performance and potential investment risks or opportunities.
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