B. Riley Trims Audacy (NYSEARCA:AUD) Target Price to $4.00

Audacy (NYSEARCA:AUD – Get Rating) had its price target decreased by investment analysts at B. Riley from $6.00 to $4.00 in a report issued on Tuesday, The Fly reports. B. Riley’s price target suggests a potential upside of 97.04% from the company’s previous close.

Separately, Zacks Investment Research upgraded shares of Audacy from a “sell” rating to a “hold” rating in a research note on Friday, February 25th.

AUD opened at $2.03 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.73. The stock has a market capitalization of $292.52 million, a PE ratio of -67.64 and a beta of 1.44. Audacy has a twelve month low of $1.97 and a twelve month high of $4.71. The company has a 50-day moving average of $2.85.

Audacy (NYSEARCA:AUD – Get Rating) last released its earnings results on Tuesday, February 22nd. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Audacy had a negative net margin of 0.29% and a positive return on equity of 0.73%. During the same period in the previous year, the business earned ($1.21) EPS. On average, sell-side analysts expect that Audacy will post 0.9 EPS for the current year.

Several large investors have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Audacy by 3.8% in the 1st quarter. Swiss National Bank now owns 282,300 shares of the company’s stock worth $816,000 after buying an additional 10,400 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Audacy by 2.3% in the 1st quarter. Victory Capital Management Inc. now owns 616,959 shares of the company’s stock worth $1,717,000 after buying an additional 14,123 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Audacy by 18.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 28,298 shares of the company’s stock valued at $82,000 after purchasing an additional 4,377 shares during the last quarter. Greenleaf Trust bought a new position in shares of Audacy during the 1st quarter valued at $33,000. Finally, Triad Investment Management grew its holdings in shares of Audacy by 9.3% during the 1st quarter. Triad Investment Management now owns 56,388 shares of the company’s stock valued at $163,000 after purchasing an additional 4,781 shares during the last quarter. 50.04% of the stock is currently owned by hedge funds and other institutional investors.

About Audacy (Get Rating)

Audacy, Inc, a multi-platform audio content and entertainment company, engages in the radio broadcasting business in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others, as well as offers integrated marketing solutions across its broadcast, digital, podcast, and event platforms.

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