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

Urban One, Inc. (NASDAQ:UONEK) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 47,800 shares, a drop of 39.7% from the September 15th total of 79,300 shares. Based on an average daily trading volume, of 23,200 shares, the short-interest ratio is currently 2.1 days. Currently, 0.3% of the company’s stock are short sold.

Urban One Stock Performance

Shares of UONEK stock opened at $1.06 on Friday. Urban One has a fifty-two week low of $1.02 and a fifty-two week high of $5.92. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.76 and a current ratio of 2.77. The stock’s 50-day simple moving average is $1.24 and its 200-day simple moving average is $1.49.

Urban One (NASDAQ:UONEK) last released its earnings results on Thursday, August 8th. The company reported $0.57 EPS 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 during the quarter.

Insider Activity

In other Urban One news, CFO Peter Thompson sold 200,000 shares of Urban One 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 transaction, the chief financial officer now owns 320,642 shares in the company, valued at $394,389.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 50.45% of the company’s stock.

Institutional Investors Weigh In On Urban One

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Urban One in the 2nd quarter worth approximately $27,000. Empowered Funds LLC boosted 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 in the last quarter. Finally, Zazove Associates LLC boosted its position in Urban One by 36.2% in the 1st quarter. Zazove Associates LLC now owns 3,357,350 shares of the company’s stock worth $6,849,000 after purchasing an additional 893,185 shares in the last quarter. Institutional investors and hedge funds own 19.70% of the company’s stock.

About Urban One

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.