Audacy (NYSEARCA:AUD) Shares Gap Down to $3.67

Shares of Audacy, Inc. (NYSEARCA:AUD) gapped down before the market opened on Thursday . The stock had previously closed at $3.67, but opened at $3.56. Audacy shares last traded at $3.57, with a volume of 3,289 shares changing hands.

AUD has been the subject of a number of research analyst reports. B. Riley reiterated a “neutral” rating and set a $5.50 price target (up previously from $5.00) on shares of Audacy in a research report on Monday, May 10th. Zacks Investment Research downgraded Audacy from a “hold” rating to a “sell” rating in a research report on Monday, May 3rd.

The stock has a 50-day moving average of $4.19. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.72 and a quick ratio of 1.72.

A number of large investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. bought a new stake in Audacy in the 1st quarter worth approximately $213,000. Public Employees Retirement System of Ohio purchased a new position in Audacy in the 1st quarter worth approximately $157,000. Finally, Tudor Investment Corp Et Al purchased a new position in Audacy in the 1st quarter worth approximately $127,000. Institutional investors own 49.60% of the company’s stock.

About Audacy (NYSEARCA:AUD)

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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