The radio segment is one of those spaces that some see as dwindling right now. With the onset of on demand viewing television, and services such as Spotify, the hours of listening time that individuals can (or will) offer the airwaves is limited. With that said, many niche stations (or groups of stations) continue to perform very well. A just announced share purchase highlights the fact that there’s still some big name interest in the sector.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Radio One, Inc. (NASDAQ:ROIAK) reported that Third Avenue Management has picked up 1,906,369 of common stock as of 2017-01-09.
The acquisition brings the aggregate amount owned by Third Avenue Management to a total of 1,906,369 representing a 4.64% stake in the company.
For those not familiar with the company, Radio One, Inc. together with its subsidiaries, is an urban-oriented, multi-media company. The Company’s radio broadcasting franchise business primarily targets African-American and urban listeners. It operates through four segments: radio broadcasting; Reach Media, Inc. (Reach Media); Internet, and cable television. The radio broadcasting segment consists of its radio broadcast operations. The Reach Media segment consists of the results of operations for the Tom Joyner Morning Show, and related activities and operations of other syndicated radio shows, including the Rickey Smiley Morning Show, the Yolanda Adams Morning Show, the Russ Parr Morning Show and the DL Hughley Show.
A glance at Radio One, Inc. (NASDAQ:ROIAK)’s key stats reveals a current market capitalization of 140.11 million based on 41.05 million shares outstanding and a price at last close of $2.95 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-11-15, Blaylock picked up 159,754 shares at a purchase price of $2.55. This brings their total holding to 379,628 as of the date of the filing.
On the sell side, the most recent transaction saw Thompson unload 1,900 shares at a sale price of $2.80. This brings their total holding to 258,534.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Radio One, Inc. (NASDAQ:ROIAK) as things move forward to see if its progress aligns with these transactions.
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