Audacy, Inc. (NYSEARCA:AUD) CEO David J. Field Purchases 100,000 Shares

Audacy, Inc. (NYSEARCA:AUDGet Rating) CEO David J. Field purchased 100,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were 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 owns 3,258,246 shares in the company, valued at approximately $5,310,940.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of AUD stock opened at $1.62 on Thursday. The firm has a market cap of $232.50 million, a P/E ratio of 31.01 and a beta of 1.44. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.66 and a quick ratio of 1.66. Audacy, Inc. has a 1-year low of $1.45 and a 1-year high of $4.71. The firm has a fifty day moving average of $2.59 and a two-hundred day moving average of $2.62.

Audacy (NYSEARCA:AUDGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Audacy had a net margin of 0.56% and a return on equity of 1.10%. During the same quarter last year, the company posted ($1.21) earnings per share. On average, sell-side analysts expect that Audacy, Inc. will post 0.79 EPS for the current year.

A number of hedge funds have recently made changes to their positions in AUD. Contrarius Investment Management Ltd grew its holdings in Audacy by 15.7% during the 4th quarter. Contrarius Investment Management Ltd now owns 11,097,707 shares of the company’s stock worth $28,521,000 after acquiring an additional 1,506,439 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Audacy during the 4th quarter worth $1,951,000. Morgan Stanley acquired a new position in Audacy during the 2nd quarter worth $3,023,000. Senator Investment Group LP lifted its position in shares of Audacy by 35.7% in the 3rd quarter. Senator Investment Group LP now owns 1,900,000 shares of the company’s stock worth $6,992,000 after buying an additional 500,000 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Audacy by 9.5% in the 3rd quarter. Invesco Ltd. now owns 5,714,854 shares of the company’s stock worth $21,030,000 after buying an additional 493,489 shares during the last quarter. 50.04% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Audacy from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. B. Riley lowered their price target on shares of Audacy from $6.00 to $4.00 in a report on Tuesday, May 10th.

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.

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