Shares of AirMedia Group Inc (NASDAQ:AMCN) rose 0.6% during mid-day trading on Friday . The stock traded as high as $1.84 and last traded at $1.66. Approximately 9,044 shares changed hands during trading, a decline of 29% from the average daily volume of 12,764 shares. The stock had previously closed at $1.65.
The company has a debt-to-equity ratio of 0.19, a current ratio of 0.59 and a quick ratio of 0.59.
An institutional investor recently raised its position in AirMedia Group stock. Morgan Stanley increased its holdings in shares of AirMedia Group Inc (NASDAQ:AMCN) by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 911,563 shares of the business services provider’s stock after purchasing an additional 51,842 shares during the period. Morgan Stanley owned approximately 7.26% of AirMedia Group worth $392,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 7.80% of the company’s stock.
AirMedia Group Inc operates out-of-home advertising platforms in the People's Republic of China. The company operates a network of digital (television) TV screens on planes operated by 7 airlines; and gas station media network, as well as other outdoor media advertising platforms in gas stations.
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