STOCK OF THE DAY: UONE URBAN ONE

URBAN ONE INC

Urban One Inc. (UONE) is a multimedia company headquartered in Silver Spring, Maryland. The company broadcasts radio programs targeting African American urban listeners. UONE stock jumped 492.51 percent on June 16, 2020, while closing with 315.75 percent. The stock has 52-week low of $0.949 and high of $40. The stock’s market capital is not clear at all. E*TRADE reports market capital of $120.8 million, while NASDAQ reports $158.83 million. UONE is trading around $27.19 per shared on NASDAQ. The stock has average trading volume of 2.5 million.

UONE has over 37 percent institutional ownership and only 1.68 percent short interest considering its 22 million floating shares. Uone is up more than 1,123 percent for the week and over 2,122 percent for the month. Urban One Inc. is a diversified company, and other segments of the company are digital and cable television and morning shows. UONE is down over 10 percent in pre-market today with price of $24.22 per share.

On May 28, 2020, Urban one reported its quarterly earnings which shows revenue of $94.9 million. The report indicates a 3.6 percent decrease from last year. UONE is planning on reducing fixed costs by going through layoffs and salary cuts to minimize risks. UONE on June 16, 2020 reached 16 years high on its stock price.

On June 11, 2020, Brigade Leveraged Capital Structures Fund sold 3,938161 shares per share price of $ 0.762. Since that transaction, the stock has jumped up over 1000 percent. The shares at the time of transaction was worth $ 3,000,878. If the Fund management still hold onto the shares of UONE, it would be worth $107,078,597 million profit of $104,077,719.   

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