Urban One (NASDAQ:UONEK) Issues Quarterly Earnings Results

Urban One (NASDAQ:UONEK) issued its earnings results on Tuesday. The company reported $0.31 earnings per share (EPS) for the quarter, reports. The firm had revenue of $110.39 million for the quarter. Urban One had a positive return on equity of 17.29% and a negative net margin of 17.82%.

Urban One Stock Performance

Shares of NASDAQ UONEK opened at $1.05 on Friday. Urban One has a 52-week low of $0.97 and a 52-week high of $4.47. The company has a debt-to-equity ratio of 2.90, a quick ratio of 2.76 and a current ratio of 2.91. The firm has a 50 day moving average price of $1.12 and a 200 day moving average price of $1.36.

Insiders Place Their Bets

In related news, CFO Peter Thompson sold 200,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $394,389.66. The trade was a 38.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 50.45% of the company’s stock.

Institutional Trading of Urban One

Several hedge funds and other institutional investors have recently modified their holdings of UONEK. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Urban One during the second quarter worth about $27,000. Empowered Funds LLC boosted its position in Urban One by 8.1% during the 1st quarter. Empowered Funds LLC now owns 133,337 shares of the company’s stock worth $272,000 after acquiring an additional 9,975 shares during the last quarter. Finally, Zazove Associates LLC grew its stake in shares of Urban One by 36.2% during the 1st quarter. Zazove Associates LLC now owns 3,357,350 shares of the company’s stock worth $6,849,000 after acquiring 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.