While Beasley Broadcast Group shares have gained attention for their up-and-down activity over the last several trading sessions, the enormous growth seen by Urban One in its stock price appears to be a bit more calculated.
Still, the media company superserving African American audiences saw its Class A shares dip by nearly 50% in Monday’s trading, before bouncing back in immediate after-hours activity.
Meanwhile, seven Urban One directors have sold shares and/or exercised options “given the movement in the price” of both the company’s Class D and Class A shares.
At day’s end, “UONE” was trading at $19.36, off $16.94 from its incredible Friday high.
Then, in after-hours trading, bargain hunters surfaced, and Urban One’s Class A shares were on the rise again, reaching $22.90 at 5:45pm ET.
Regular session volume was 7.94 million shares, against a newly established average of 2.59 million shares.
When one looks at the one-month trading activity of Urban One, they may mistake it for a comatose patient just given a successful EKG shock.
Meanwhile, Class D shares trading as “UONEK” were at $2.90, down 30.1% from Friday, at the Closing Bell. Like the Class A shares, after-hours trading was immediately positive, with pricing at $3.06 as of 5:45pm ET.
Given the movement in the price of Urban One’s Class A and Class D shares, President/CEO Alfred Liggins III, company founder and board chair Cathy Hughes and board members Geoffrey Armstrong, Terry Jones and Brian McNeill sold shares of the company’s Class A and/or Class D common stock and/or exercised options.
Further, David Kantor, the CEO of the Company Radio Division and Urban One CFO Peter D. Thompson sold shares of common stock and/or exercised options.
Due to credentialing issues with the EDGAR system, each of these individuals is experiencing delays in filing the relevant Form 4s, Urban One said in an 8-K filed late Monday with the SEC. However, they will be filing the requisite forms as quickly as possible.
With further transactions possible, the executives and board directors engaged in the following activity between June 16 and June 22.
|
Name and Position
|
Number of Class A Shares Sold as of June 22, 2020
|
Number of Class D Shares Sold as of June 22, 2020
|
Options Exercised as of June 22, 2020
|
|||||||||
|
Catherine L. Hughes, Founder and Chairperson of Board
|
N/A
|
789,115
|
N/A
|
|||||||||
|
Alfred C. Liggins, President and CEO and Board Member
|
574,909 |
N/A
|
N/A
|
|||||||||
|
Geoffrey Armstrong, Board Member
|
N/A
|
75,000
|
N/A
|
|||||||||
|
Terry Jones, Board Member
|
49,557
|
N/A
|
N/A
|
|||||||||
|
Brian Mc Neil, Board Member
|
26,434
|
247,732
|
66,424
|
|||||||||
|
David Kantor, CEO Radio Division
|
N/A
|
272,758
|
436,774
|
|||||||||
|
Peter D. Thompson, CFO
|
N/A
|
170,958
|
274,724
|
|||||||||
