Insider Buying: Audacy, Inc. (NYSEARCA:AUD) CEO Purchases $10,500.00 in Stock

Audacy, Inc. (NYSEARCA:AUDGet Rating) CEO David J. Field bought 25,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were purchased at an average price of $0.42 per share, for a total transaction of $10,500.00. Following the completion of the transaction, the chief executive officer now owns 1,796,672 shares of the company’s stock, valued at approximately $754,602.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Audacy Trading Down 1.3 %

Shares of NYSEARCA AUD opened at $0.42 on Friday. The company has a market cap of $60.36 million, a price-to-earnings ratio of 13.84 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 company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.84. The stock’s 50 day simple moving average is $0.58 and its 200 day simple moving average is $1.57.

Institutional Trading of Audacy

Hedge funds have recently made changes to their positions in the stock. CRA Financial Services LLC bought a new stake in shares of Audacy in the 2nd quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Audacy in the 2nd quarter valued at approximately $26,000. Greenleaf Trust acquired a new stake in Audacy in the 1st quarter valued at approximately $33,000. SG Americas Securities LLC increased its position in Audacy by 149.6% in the 2nd quarter. SG Americas Securities LLC now owns 47,401 shares of the company’s stock valued at $45,000 after acquiring an additional 28,411 shares during the period. Finally, XTX Topco Ltd increased its position in Audacy by 147.6% in the 1st quarter. XTX Topco Ltd now owns 25,205 shares of the company’s stock valued at $73,000 after acquiring an additional 15,027 shares during the period. Institutional investors own 51.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Guggenheim reduced their price objective on Audacy from $5.00 to $2.00 in a research report on Friday, July 15th. Wells Fargo & Company lowered Audacy from an “equal weight” rating to an “underweight” rating in a research note on Friday, July 8th. Finally, B. Riley lowered Audacy from a “buy” rating to a “neutral” rating and set a $1.00 target price for the company. in a research note on Wednesday, July 13th.

About Audacy

(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.

Further Reading

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