Audacy Inc.: Why Investors Shouldn’t Get Rid Of AUD Stock In 2021 – Marketing Sentinel
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Audacy Inc.: Why Investors Shouldn’t Get Rid Of AUD Stock In 2021

In the last trading session, 1.02 million shares of the Audacy Inc. (NYSE:AUD) were traded, and its beta was 1.61. Most recently the company’s share price was $2.85, and it changed around -$0.09 or -3.06% from the last close, which brings the market valuation of the company to $393.33M. AUD currently trades at a discount to its 52-week high of $6.34, offering almost -122.46% off that amount. The share price’s 52-week low was $2.01, which indicates that the current value has risen by an impressive 29.47% since then. We note from Audacy Inc.’s average daily trading volume that its 3-month average coming to 492.42K.

Audacy Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.60. If we narrow it down even further, the data shows that 1 out of 5 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended AUD as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Audacy Inc. is expected to report earnings per share of $0.1 for the current quarter.

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Audacy Inc. (NYSE:AUD) trade information

Instantly AUD has showed a red trend with a performance of -3.06% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.08 on Tuesday, 11/23/21 increased the stock’s daily price by 7.47%. The company’s shares are currently up 15.38% year-to-date, but still down -7.17% over the last five days. On the other hand, Audacy Inc. (NYSE:AUD) is -15.68% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $4.10, which translates to bulls needing to increase their stock price by 30.49% from its current value. Analyst projections state that AUD is forecast to be at a low of $3.00 and a high of $5.50. In order for the stock price to hit the forecast high, the stock would need to plunge -92.98% from its current level, while the stock would need to crash -5.26% from its current level to reach the projected low.

Audacy Inc. (AUD) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 1,100.00% in revenue this quarter, and will report an increase of 41.20% in the next quarter. The year-over-year growth rate is expected to be 18.10%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $336.66 million in revenue for the current quarter. 5 analysts expect Audacy Inc. to make $377.6 million in revenue for the quarter ending Dec 2021. Forecasts for the next quarter put sales growth at 18.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -34.90%.

AUD Dividends

Audacy Inc.’s next quarterly earnings report is expected to be released around August 05 and August 09. The annual dividend yield of the stock is 2.81 percent and its annual dividend per share was 0.08. It is important to note, however, that the 2.81% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Audacy Inc. (NYSE:AUD)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 14.92% of Audacy Inc. shares, and 55.36% of them are in the hands of institutional investors. The stock currently has a share float of 65.07%. Audacy Inc. stock is held by 211 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2021, it held 6.46% of the shares, which is about 8.88 million shares worth $38.25 million.

Contrarius Investment Management Limited, with 5.87% or 8.06 million shares worth $34.74 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Mar 30, 2021. The former held 3.08 million shares worth $16.19 million, making up 2.24% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.82 million shares worth around $12.17 million, which represents about 2.06% of the total shares outstanding.

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