Emmis Communications Co. (NASDAQ:EMMS) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 9,000 shares, an increase of 30.4% from the May 15th total of 6,900 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 11,300 shares, the days-to-cover ratio is currently 0.8 days.
In other Emmis Communications news, insider Gregory T. Loewen sold 7,500 shares of Emmis Communications stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $6.50, for a total value of $48,750.00. Following the transaction, the insider now owns 122,146 shares of the company’s stock, valued at $793,949. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 32.30% of the company’s stock.
A number of research analysts have weighed in on EMMS shares. TheStreet lowered shares of Zumiez from a “b” rating to a “c+” rating in a research note on Thursday, June 6th. ValuEngine lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th.
Emmis Communications (NASDAQ:EMMS) last issued its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $23.75 million for the quarter. Emmis Communications had a return on equity of 23.10% and a net margin of 20.46%.
About Emmis Communications
Emmis Communications Corporation, a diversified media company, engages in radio broadcasting activities in the United States. The company operates in three segments: Radio, Publishing, and Corporate & Emerging Technologies. It operates 11 FM and 3 AM radio stations in New York, Los Angeles, Indianapolis, and Austin, as well as publishes Indianapolis monthly magazine.
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