Audacy, Inc. (NYSEARCA:AUD) to Post Q1 2023 Earnings of ($0.25) Per Share, B. Riley Forecasts

Audacy, Inc. (NYSEARCA:AUD – Get Rating) – Equities researchers at B. Riley issued their Q1 2023 EPS estimates for Audacy in a research note issued to investors on Wednesday, March 15th. B. Riley analyst D. Day forecasts that the company will post earnings per share of ($0.25) for the quarter. The consensus estimate for Audacy’s current full-year earnings is ($0.19) per share. B. Riley also issued estimates for Audacy’s Q2 2023 earnings at ($0.10) EPS and Q3 2023 earnings at ($0.06) EPS.

Audacy Stock Performance

Shares of NYSEARCA:AUD opened at $0.09 on Friday. The company’s 50 day simple moving average is $0.25 and its 200 day simple moving average is $0.31. The stock has a market capitalization of $12.91 million, a price-to-earnings ratio of -0.09 and a beta of 1.59. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.98 and a quick ratio of 1.98. Audacy has a 1 year low of $0.09 and a 1 year high of $3.36.

Hedge Funds Weigh In On Audacy

Hedge funds have recently modified their holdings of the business. Swiss National Bank raised its holdings in shares of Audacy by 3.8% during the first quarter. Swiss National Bank now owns 282,300 shares of the company’s stock valued at $816,000 after purchasing an additional 10,400 shares during the period. XTX Topco Ltd increased its position in shares of 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. Bank of New York Mellon Corp increased its position in shares of Audacy by 3.7% during the first quarter. Bank of New York Mellon Corp now owns 458,023 shares of the company’s stock worth $1,323,000 after acquiring an additional 16,324 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Audacy during the first quarter worth about $75,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Audacy in the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 45.92% of the company’s stock.

Audacy Company Profile

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Audacy, Inc is a scaled, multi-platform audio content, and entertainment company. The firm involves as a radio broadcasting group by offering premium audio. It engages in providing consumers with news, sports, podcasts, and music. Its broadcast brands include WFAN, KROQ, and 1010WINS. The company was founded by Joseph M.