Contrarius Investment Management Ltd lifted its holdings in shares of Audacy, Inc. (NYSEARCA:AUD – Get Rating) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,218,514 shares of the company's stock after buying an additional 1,120,807 shares during the period. Audacy makes up about 1.6% of Contrarius Investment Management Ltd's investment portfolio, making the stock its 19th largest holding. Contrarius Investment Management Ltd owned about 8.48% of Audacy worth $35,312,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in AUD. Greenleaf Trust acquired a new position in shares of Audacy during the first quarter valued at approximately $33,000. Great Lakes Advisors LLC bought a new stake in shares of Audacy in the 4th quarter worth $40,000. Nisa Investment Advisors LLC lifted its holdings 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 buying an additional 19,321 shares during the period. ProShare Advisors LLC boosted its stake in Audacy by 70.5% during the fourth quarter. ProShare Advisors LLC now owns 25,772 shares of the company's stock valued at $66,000 after buying an additional 10,655 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Audacy during the fourth quarter worth about $70,000. 50.04% of the stock is currently owned by institutional investors and hedge funds.
Get Audacy alerts:Audacy Stock Performance
Audacy stock traded down $0.01 during trading hours on Friday, reaching $0.72. 3,909 shares of the company were exchanged, compared to its average volume of 793,810. Audacy, Inc. has a 12 month low of $0.55 and a 12 month high of $4.04. The company has a current ratio of 1.80, a quick ratio of 1.66 and a debt-to-equity ratio of 2.84. The stock has a 50-day moving average of $0.95 and a 200 day moving average of $1.97. The firm has a market cap of $103.48 million, a price-to-earnings ratio of 24.52 and a beta of 1.43.
Analyst Upgrades and Downgrades
AUD has been the subject of several research reports. B. Riley lowered Audacy from a "buy" rating to a "neutral" rating and set a $1.00 price objective for the company. in a research note on Wednesday, July 13th. Wells Fargo & Company downgraded Audacy from an "equal weight" rating to an "underweight" rating in a report on Friday, July 8th. Finally, Guggenheim dropped their target price on shares of Audacy from $5.00 to $2.00 in a research report on Friday, July 15th.Insider Transactions at Audacy
In other Audacy news, CEO David J. Field acquired 100,000 shares of Audacy 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 completion of the transaction, the chief executive officer now owns 3,258,246 shares of the company's stock, valued at $5,310,940.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.74% of the stock is currently owned by corporate insiders.
Audacy Company Profile
(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.
Read More
- Get a free copy of the StockNews.com research report on Audacy (AUD)
- Institutions And Analysts Propel Jack In The Box Higher
- Can You Guess Which EV Stock Is Beating Tesla ?
- Look at Honeywell for a Steady and Diversified Stock
- Why Invest in High-Yield Dividend Stocks?
- Disney (NYSE: DIS) Shares Just Gave Investors A Massive Signal
Receive News & Ratings for Audacy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Audacy and related companies with MarketBeat.com's FREE daily email newsletter.