Troika Media Group, Inc. (NASDAQ:TRKA) Sees Large Increase in Short Interest

Troika Media Group, Inc. (NASDAQ:TRKA – Get Rating) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,690,000 shares, an increase of 261.3% from the March 15th total of 467,800 shares. Based on an average daily trading volume, of 912,500 shares, the days-to-cover ratio is currently 1.9 days. Currently, 10.4% of the company’s stock are short sold.

Shares of TRKA opened at $0.72 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $1.05 and a 200 day moving average of $1.31. Troika Media Group has a 12 month low of $0.58 and a 12 month high of $4.00.

Troika Media Group (NASDAQ:TRKA – Get Rating) last issued its quarterly earnings results on Monday, February 14th. The company reported ($0.09) EPS for the quarter. The company had revenue of $6.99 million during the quarter.

In other news, major shareholder Peter Coates purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 13th. The shares were acquired at an average cost of $0.68 per share, with a total value of $68,000.00. Following the purchase, the insider now owns 8,991,710 shares in the company, valued at $6,114,362.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Troika Media Group by 154.1% during the third quarter. BlackRock Inc. now owns 51,239 shares of the company’s stock valued at $68,000 after purchasing an additional 31,076 shares during the period. Citadel Advisors LLC bought a new position in Troika Media Group during the third quarter valued at $82,000. Renaissance Technologies LLC bought a new position in Troika Media Group during the fourth quarter valued at $30,000. Finally, Geode Capital Management LLC grew its holdings in Troika Media Group by 383.9% during the fourth quarter. Geode Capital Management LLC now owns 234,515 shares of the company’s stock valued at $274,000 after purchasing an additional 186,053 shares during the period. 0.93% of the stock is owned by institutional investors.

About Troika Media Group (Get Rating)

Troika Media Group, Inc a consultancy and consumer engagement company, provides integrated branding, marketing, research, and data science solutions worldwide. It offers media services and analytics platform, digital marketing, data analytics and reporting, media content for events and hospitality customers, sponsorship partnerships and advertising opportunities, analytics and big data; strategic media buying and planning, design and branding, market research and insights, brand strategy, 360 brand design, advertising and sponsorship integration, brand experience and fan engagement, content creation, and sonic branding and original music services, as well as design, animation, and post production studio services.

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