Short Interest in Urban One, Inc. (NASDAQ:UONEK) Drops By 39.7%

Urban One, Inc. (NASDAQ:UONEK - Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 47,800 shares, a decline of 39.7% from the September 15th total of 79,300 shares. Based on an average daily volume of 23,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.3% of the shares of the company are sold short.

Insider Activity at Urban One

In related news, CFO Peter Thompson sold 200,000 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.23, for a total value of $246,000.00. Following the sale, the chief financial officer now directly owns 320,642 shares in the company, valued at approximately $394,389.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 50.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban One

Several hedge funds have recently added to or reduced their stakes in UONEK. Empowered Funds LLC raised its position in Urban One by 8.1% in the 1st quarter. Empowered Funds LLC now owns 133,337 shares of the company's stock worth $272,000 after purchasing an additional 9,975 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Urban One in the second quarter worth about $27,000. Finally, Zazove Associates LLC lifted its stake in shares of Urban One by 36.2% in the 1st quarter. Zazove Associates LLC now owns 3,357,350 shares of the company's stock valued at $6,849,000 after acquiring an additional 893,185 shares during the last quarter. Institutional investors own 19.70% of the company's stock.

Urban One Price Performance

Urban One stock traded down $0.04 during midday trading on Friday, reaching $1.02. 22,941 shares of the stock were exchanged, compared to its average volume of 50,557. The company's fifty day moving average is $1.24 and its 200-day moving average is $1.49. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.76 and a current ratio of 2.77. Urban One has a 52 week low of $1.01 and a 52 week high of $5.92. The firm has a market cap of $49.40 million, a PE ratio of -0.49 and a beta of 0.56.

Urban One (NASDAQ:UONEK - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.57 earnings per share for the quarter. Urban One had a positive return on equity of 15.38% and a negative net margin of 22.45%. The firm had revenue of $117.74 million for the quarter.

Urban One Company Profile

Urban One, Inc, together with its subsidiaries, operates as an urban-oriented multi-media company in the United States. The company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment includes radio broadcasting operations that primarily target African-American and urban listeners.