State Street Corp Acquires Shares of 2,422,585 Audacy, Inc. (NYSEARCA:AUD)

State Street Corp acquired a new stake in Audacy, Inc. (NYSEARCA:AUD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,422,585 shares of the company’s stock, valued at approximately $10,441,000. State Street Corp owned about 1.71% of Audacy as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AUD. BlackRock Inc. bought a new position in shares of Audacy during the 2nd quarter valued at approximately $38,254,000. Contrarius Investment Management Ltd bought a new position in shares of Audacy during the 2nd quarter valued at approximately $34,739,000. Vanguard Group Inc. bought a new position in shares of Audacy during the 2nd quarter valued at approximately $27,094,000. Dimensional Fund Advisors LP bought a new position in shares of Audacy during the 2nd quarter valued at approximately $15,796,000. Finally, Geode Capital Management LLC bought a new position in shares of Audacy during the 2nd quarter valued at approximately $8,219,000. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Separately, Zacks Investment Research raised shares of Audacy from a “sell” rating to a “hold” rating in a report on Monday, October 11th.

In related news, CEO David J. Field acquired 16,224 shares of the stock in a transaction dated Wednesday, November 17th. The shares were purchased at an average price of $3.01 per share, for a total transaction of $48,834.24. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David J. Field acquired 20,000 shares of the stock in a transaction dated Friday, November 19th. The shares were bought at an average price of $2.92 per share, for a total transaction of $58,400.00. The disclosure for this purchase can be found here. 17.16% of the stock is owned by company insiders.

AUD opened at $2.75 on Thursday. The business has a 50 day simple moving average of $3.41. The company has a market cap of $389.03 million, a P/E ratio of -1.96 and a beta of 1.65. Audacy, Inc. has a 12 month low of $2.01 and a 12 month high of $6.34. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.73 and a current ratio of 1.73.

Audacy (NYSEARCA:AUD) last announced its quarterly earnings results on Monday, November 8th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.10). Audacy had a negative net margin of 15.69% and a negative return on equity of 28.40%. During the same quarter in the prior year, the company earned ($0.13) earnings per share. As a group, equities analysts anticipate that Audacy, Inc. will post -0.06 earnings per share for the current year.

About Audacy

Audacy, Inc is a scaled, multi-platform audio content, and entertainment company. The firm involves as a radio broadcasting group by offering premium audio. It engages in providing consumers with news, sports, podcasts, and music. Its broadcast brands include WFAN, KROQ, and 1010WINS. The company was founded by Joseph M.

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Institutional Ownership by Quarter for Audacy (NYSEARCA:AUD)

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