Audacy, Inc. (NYSEARCA:AUD) CEO Buys $20,161.75 in Stock

Audacy, Inc. (NYSEARCA:AUDGet Rating) CEO David J. Field bought 49,175 shares of the stock in a transaction on Friday, September 23rd. The shares were acquired at an average cost of $0.41 per share, for a total transaction of $20,161.75. Following the acquisition, the chief executive officer now directly owns 1,944,388 shares in the company, valued at $797,199.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Audacy Price Performance

Shares of Audacy stock traded down $0.01 during trading on Friday, hitting $0.40. The stock had a trading volume of 970,008 shares, compared to its average volume of 679,410. The firm has a market cap of $58.61 million, a price-to-earnings ratio of 13.44 and a beta of 1.45. Audacy, Inc. has a 12 month low of $0.35 and a 12 month high of $4.04. The business’s 50-day moving average is $0.58 and its 200 day moving average is $1.57. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AUD. Invesco Ltd. grew its position in Audacy by 0.7% in the fourth quarter. Invesco Ltd. now owns 5,755,294 shares of the company’s stock worth $14,790,000 after acquiring an additional 40,440 shares in the last quarter. Triad Investment Management grew its position in Audacy by 9.3% in the first quarter. Triad Investment Management now owns 56,388 shares of the company’s stock worth $163,000 after acquiring an additional 4,781 shares in the last quarter. Greenleaf Trust purchased a new position in Audacy in the first quarter worth $33,000. Nisa Investment Advisors LLC grew its position in Audacy by 18.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,298 shares of the company’s stock worth $82,000 after acquiring an additional 4,377 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Audacy by 2.3% in the first quarter. Victory Capital Management Inc. now owns 616,959 shares of the company’s stock worth $1,717,000 after acquiring an additional 14,123 shares in the last quarter. 51.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AUD. Wells Fargo & Company cut shares of Audacy from an “equal weight” rating to an “underweight” rating in a report on Friday, July 8th. Guggenheim lowered their target price on shares of Audacy from $5.00 to $2.00 in a report on Friday, July 15th. Finally, B. Riley cut shares of Audacy from a “buy” rating to a “neutral” rating and set a $1.00 target price on the stock. in a report on Wednesday, July 13th.

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.

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Insider Buying and Selling by Quarter for Audacy (NYSEARCA:AUD)

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