As of Friday, Audacy Inc.’s (NYSE:AUD) stock closed at $0.28, up from $0.26 the previous day. While Audacy Inc. has overperformed by 8.02%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, AUD fell by -87.31%, with highs and lows ranging from $3.36 to $0.20, whereas the simple moving average fell by -68.95% in the last 200 days.
On July 13, 2022, B. Riley Securities Downgraded Audacy Inc. (NYSE: AUD) to Neutral. A report published by Wells Fargo on July 08, 2022, Downgraded its rating to ‘Underweight’ for AUD. Wells Fargo also Downgraded AUD shares as ‘Equal Weight’, setting a target price of $3 on the company’s shares in a report dated January 04, 2022. B. Riley Securities December 15, 2021d the rating to Buy on December 15, 2021, and set its price target from $4 to $5.
Analysis of Audacy Inc. (AUD)
Further, the quarter-over-quarter decrease in sales is -3.80%, showing a negative trend in the upcoming months.
One of the most important indicators of Audacy Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -21.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and AUD is recording 977.96K average volume. On a monthly basis, the volatility of the stock is set at 12.19%, whereas on a weekly basis, it is put at 14.54%, with a loss of -0.94% over the past seven days.
How Do You Analyze Audacy Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.70%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 61.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in AUD shares?
The recent increase in stakes in AUD appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in AUD has decreased by -0.84% in the first quarter. The company now owns 7,378,040 shares of the stock, with a value of $1.66 million, following the sale of -62,463 additional shares during the last quarter.
At the end of the first quarter, LSV Asset Management decreased its AUD holdings by -4.04% and now holds 5.22 million AUD shares valued at $1.18 million with the lessened -0.22 million shares during the period. AUD shares are owned by institutional investors to the tune of 61.40% at present.