AirMedia Group Inc – American D (NASDAQ:AMCN) Traded Significantly Below Its 50 Day Moving Average


The stock last traded at $2.23 which is significantly below the 50 day moving average which is $2.51 and just a bit lower than the 200 day moving average of $2.37. The 50 day moving average went down by -11.24% and the 200 day average was down $-0.14. AirMedia Group Inc – American D shares had a trading volume of 2,450 in the last trading session. Shares saw a steep decrease in trading volume of 99.52% under the normal average daily volume.

Investors are a little more bullish on the company lately if you pay attention to the downtick in short interest. The stock recorded a fall in short interest of -12.01% as of September 29, 2017 from the last reporting period. Short shares fell from 626,851 to 551,596 over that timeframe. Days to cover decreased 0.0 to 2.0 and the percentage of shorted shares was 0.01% on September 29.

These funds have shifted positions in (AMCN). First Manhattan Co reduced its position by shedding 2,957,504 shares a decrease of 78.1% as of 06/30/2017. First Manhattan Co now controls 827,452 shares worth $1,770,000. The total value of its holdings decreased 83.0%. As of the end of the quarter Citadel Advisors LLC had acquired 4,883 shares growing its holdings by 35.6%. The value of the company’s investment in AirMedia Group Inc – American D increased from $38,000 to $40,000 increasing 5.3% quarter over quarter.

Wolverine Asset Management LLC divested its holdings by selling 20,400 shares a decrease of 9.6% in the quarter. Wolverine Asset Management LLC currently owns 192,665 shares valued at $412,000. The value of the position overall is down by 29.6%. Cutler Group LP grew its ownership by buying 3,500 shares an increase of 70.0%. Cutler Group LP owns 8,500 shares with a value of $1,000. The total value of its holdings increased inf%.

AirMedia Group Inc., launched on April 12, 2007, is an operator of out-of-home advertising platforms in China. The Company is involved in selling advertising time slots on its network, primarily air travel advertising network, across the People’s Republic of China. The Company holds concession rights to install and operate wireless fidelity (Wi-Fi) systems on trains administered by over eight regional railway administrative bureaus in China. It also holds concession rights to install and operate Wi-Fi systems on various long-haul buses in China. The Company operates approximately 71,900 digital television screens on airplanes operated by over five airlines, including Air China, China Eastern Airlines, China Southern Airlines, Shanghai Airlines and Xiamen Airlines. It also holds concession rights to operate the advertising media platforms at Sinopec gas stations across China. It provides in-flight advertising and non-advertising contents..