Taking a Closer Look At Audacy Inc. (AUD) Following Its Recent Trade


Audacy Inc.’s filing revealed that its EVP & Chief Digital Officer Crowley John David acquired Company’s shares for reported $30001.0 on Nov 30. In the deal valued at $0.30 per share,100,004 shares were bought. As a result of this transaction, Crowley John David now holds 468,756 shares worth roughly $ 75000.96.

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Then, FIELD DAVID J bought 49,175 shares, generating $20,206 in total proceeds. Upon buying the shares at $0.41, the Chairman, President and CEO now owns 1,944,388 shares.

Before that, FIELD DAVID J bought 48,491 shares. Audacy Inc. shares valued at $21,055 were divested by the Chairman, President and CEO at a price of $0.43 per share. As a result of the transaction, FIELD DAVID J now holds 1,895,163 shares, worth roughly $0.3 million.

B. Riley Securities downgraded its Audacy Inc. [AUD] rating to a Neutral from a a Buy in a research note published on Friday. PT values the company’s stock at a premium of 84.0 to its Friday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in early July from “an Equal weight” to “an Underweight”. Wells Fargo also remained covering AUD and has decreased its forecast on January 04, 2022 with a “an Equal weight” recommendation from previously “an Overweight” rating. B. Riley Securities revised its rating on December 15, 2021. It rated AUD as “a Buy” which previously was an “a Neutral”.

Price Performance Review of AUD

On Friday, Audacy Inc. [NYSE:AUD] saw its stock jump 2.64% to $0.16. On the same session, the stock had its day’s lowest price of $0.1344, but rose to a high of $0.1645. Over the last five days, the stock has lost -12.81%. Audacy Inc. shares have fallen nearly -29.28% since the year began. Nevertheless, the stocks have fallen -94.81% over the past one year. While a 52-week high of $3.36 was reached on 02/02/23, a 52-week low of $0.14 was recorded on 03/10/23. SMA at 50 days reached $0.2609, while 200 days put it at $0.5363. A total of 2.02 million shares were traded, compared to the trading of 0.51 million shares in the previous session.

Levels Of Support And Resistance For AUD Stock

The 24-hour chart illustrates a support level at 0.1409, which if violated will result in even more drops to 0.1226. On the upside, there is a resistance level at 0.1710. A further resistance level may holdings at 0.1828. The Relative Strength Index (RSI) on the 14-day chart is 25.01, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0415, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.16%. Stochastics %K at 12.05% indicates the stock is a buying.

How much short interest is there in Audacy Inc.?

A steep rise in short interest was recorded in Audacy Inc. stocks on Jan 30, 2023, dropping by -0.16 million shares to a total of 8.36 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 8.52 million shares. There was a decline of -1.91%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.00% of the overall stock float, the days-to-cover ratio (short ratio) fell to 12.1.

Audacy Inc. [AUD] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,211,460 shares, or roughly 5.11% of the outstanding AUD shares. In other words, the investor’s shares have fallen by -229,043 from its previous 13-F filing of 7440503.0. Over the last quarter, Charles Schwab Investment Managem purchased 2,261,380 shares of Audacy Inc., while Solas Capital Management LLC bought -302,445 shares. At present, LSV Asset Management is holding 3,922,400 shares valued at $0.84 million. Hein Park Capital Management LP owned 3,899,341 shares of the company at the time of its most recent 13F filing, worth $0.84 million.

According to FactSet, Audacy Inc.’s share price will average $0.44 in the next year, based on opinions of analysts polled by the firm. This is up nearly 137.5 percent from its previous closing price of $0.16. Analysts expect Audacy Inc. stock to reach the higher price of $1.00, while the lowest price estimate is $0.00. However, 4 analysts have rated AUD stock as an Underweight in their predictions for 2023.


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