Audacy, Inc. (NYSEARCA:AUD) Forecasted to Post Q4 2023 Earnings of ($0.04) Per Share

Audacy, Inc. (NYSEARCA:AUD – Get Rating) – Equities researchers at B. Riley issued their Q4 2023 earnings per share estimates for Audacy in a report released on Wednesday, May 10th. B. Riley analyst D. Day forecasts that the company will post earnings of ($0.04) per share for the quarter. The consensus estimate for Audacy’s current full-year earnings is ($0.41) per share.

Audacy Stock Performance

Shares of NYSEARCA AUD opened at $0.11 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.61. The stock has a 50 day simple moving average of $0.13 and a 200-day simple moving average of $0.23. The company has a market cap of $16.15 million, a PE ratio of -0.11 and a beta of 1.54. Audacy has a 12-month low of $0.09 and a 12-month high of $2.11.

Institutional Investors Weigh In On Audacy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Audacy by 4.3% in the first quarter. Invesco Ltd. now owns 6,000,142 shares of the company’s stock valued at $17,340,000 after purchasing an additional 244,848 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Audacy by 97.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,593,102 shares of the company’s stock valued at $1,034,000 after purchasing an additional 2,261,380 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Audacy by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,336,790 shares of the company’s stock valued at $9,645,000 after buying an additional 135,003 shares during the period. State Street Corp lifted its stake in shares of Audacy by 2.3% in the first quarter. State Street Corp now owns 2,428,361 shares of the company’s stock valued at $7,018,000 after buying an additional 54,311 shares during the period. Finally, Millennium Management LLC lifted its stake in Audacy by 20.7% during the second quarter. Millennium Management LLC now owns 2,174,174 shares of the company’s stock worth $2,049,000 after purchasing an additional 372,175 shares during the period. Institutional investors own 45.92% of the company’s stock.

About Audacy

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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.