Audacy (AUD) to Release Earnings on Friday

Audacy (NYSEARCA:AUDGet Rating) is scheduled to be posting its quarterly earnings results before the market opens on Friday, August 5th. Analysts expect Audacy to post earnings of $0.07 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Audacy Stock Performance

Shares of NYSEARCA AUD opened at $0.67 on Friday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $95.70 million, a price-to-earnings ratio of 13.34 and a beta of 1.67. The business’s 50-day simple moving average is $1.16 and its 200-day simple moving average is $2.09. Audacy has a 52 week low of $0.61 and a 52 week high of $4.04.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Guggenheim decreased their target price on Audacy from $5.00 to $2.00 in a research note on Friday, July 15th. B. Riley downgraded Audacy from a “buy” rating to a “neutral” rating and set a $1.00 target price for the company. in a research note on Wednesday, July 13th. Finally, Wells Fargo & Company downgraded Audacy from an “equal weight” rating to an “underweight” rating in a research report on Friday, July 8th.

Insider Activity at Audacy

In other news, CEO David J. Field bought 100,000 shares of the stock in a transaction dated Friday, May 20th. The stock was bought at an average cost of $1.63 per share, with a total value of $163,000.00. Following the purchase, the chief executive officer now owns 3,258,246 shares of the company’s stock, valued at $5,310,940.98. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 17.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AUD. XTX Topco Ltd lifted its holdings in Audacy by 147.6% during the first quarter. XTX Topco Ltd now owns 25,205 shares of the company’s stock worth $73,000 after acquiring an additional 15,027 shares in the last quarter. Walleye Capital LLC bought a new position in Audacy during the first quarter worth about $75,000. MetLife Investment Management LLC lifted its holdings in Audacy by 315.7% during the first quarter. MetLife Investment Management LLC now owns 52,952 shares of the company’s stock worth $153,000 after acquiring an additional 40,213 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Audacy by 38.9% during the first quarter. Renaissance Technologies LLC now owns 103,400 shares of the company’s stock worth $299,000 after acquiring an additional 28,959 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Audacy during the first quarter worth about $382,000. 50.04% of the stock is currently owned by institutional investors.

About Audacy

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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.

Further Reading

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