Audacy, Inc. (NYSEARCA:AUD – Get Rating) – Research analysts at B. Riley decreased their Q4 2022 earnings per share estimates for Audacy in a research report issued on Monday, August 8th. B. Riley analyst D. Day now anticipates that the company will earn $0.10 per share for the quarter, down from their prior estimate of $0.18. B. Riley currently has a "Neutral" rating and a $1.00 target price on the stock. The consensus estimate for Audacy's current full-year earnings is $0.32 per share. B. Riley also issued estimates for Audacy's FY2024 earnings at $0.50 EPS.
Get Audacy alerts:Several other research firms also recently issued reports on AUD. Wells Fargo & Company downgraded shares of Audacy from an "equal weight" rating to an "underweight" rating in a research note on Friday, July 8th. Guggenheim decreased their price objective on shares of Audacy from $5.00 to $2.00 in a research note on Friday, July 15th.
Audacy Stock Performance
Shares of AUD stock opened at $0.62 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.77. The firm has a fifty day moving average price of $0.97 and a 200 day moving average price of $1.98. The company has a market cap of $89.25 million, a P/E ratio of 20.73 and a beta of 1.43. Audacy has a 12 month low of $0.55 and a 12 month high of $4.04.Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in AUD. CRA Financial Services LLC acquired a new stake in shares of Audacy in the second quarter valued at approximately $25,000. Greenleaf Trust acquired a new stake in shares of Audacy in the first quarter valued at approximately $33,000. Great Lakes Advisors LLC acquired a new stake in shares of Audacy in the fourth quarter valued at approximately $40,000. SG Americas Securities LLC grew its position in shares of Audacy by 149.6% in the second quarter. SG Americas Securities LLC now owns 47,401 shares of the company's stock valued at $45,000 after purchasing an additional 28,411 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Audacy by 420.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 23,921 shares of the company's stock valued at $58,000 after purchasing an additional 19,321 shares during the last quarter. 50.04% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CEO David J. Field purchased 100,000 shares of the business's stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $1.63 per share, with a total value of $163,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,258,246 shares of the company's stock, valued at approximately $5,310,940.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.74% of the stock is currently owned by corporate insiders.
Audacy Company Profile
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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.
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