EMG Holdings L.P. lessened its stake in Audacy, Inc. (NYSEARCA:AUD – Get Rating) by 25.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,028 shares of the company's stock after selling 88,409 shares during the period. EMG Holdings L.P. owned 0.18% of Audacy worth $746,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Greenleaf Trust bought a new position in Audacy during the 1st quarter worth about $33,000. Great Lakes Advisors LLC bought a new position in Audacy during the 4th quarter worth about $40,000. ProShare Advisors LLC grew its holdings in Audacy by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 25,772 shares of the company's stock worth $66,000 after acquiring an additional 10,655 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Audacy by 18.3% during the 1st 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, MetLife Investment Management LLC grew its holdings in Audacy by 315.7% during the 1st quarter. MetLife Investment Management LLC now owns 52,952 shares of the company's stock worth $153,000 after acquiring an additional 40,213 shares in the last quarter. Hedge funds and other institutional investors own 51.87% of the company's stock.

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Audacy Stock Performance

AUD traded up $0.02 during trading on Wednesday, reaching $0.48. 253 shares of the company's stock were exchanged, compared to its average volume of 601,775. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $70.34 million, a P/E ratio of 16.29 and a beta of 1.45. The company's fifty day simple moving average is $0.69 and its 200-day simple moving average is $1.75. Audacy, Inc. has a 1 year low of $0.46 and a 1 year high of $4.04.

Analyst Ratings Changes

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

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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