Teacher Retirement System of Texas Invests $67,000 in Audacy, Inc. (NYSEARCA:AUD)

Teacher Retirement System of Texas purchased a new position in shares of Audacy, Inc. (NYSEARCA:AUD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,604 shares of the company’s stock, valued at approximately $67,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Panagora Asset Management Inc. acquired a new stake in shares of Audacy during the 1st quarter worth approximately $213,000. New York State Common Retirement Fund acquired a new stake in Audacy in the 2nd quarter valued at approximately $345,000. Investors Research Corp acquired a new stake in Audacy in the 2nd quarter valued at approximately $104,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Audacy in the 2nd quarter valued at approximately $27,000. Finally, Lokken Investment Group LLC acquired a new stake in Audacy in the 2nd quarter valued at approximately $900,000. Institutional investors and hedge funds own 51.82% of the company’s stock.

In other Audacy news, Chairman Joseph M. Field acquired 200,000 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were bought at an average cost of $3.00 per share, for a total transaction of $600,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David J. Field acquired 125,000 shares of the company’s stock in a transaction on Wednesday, August 11th. The stock was acquired at an average price of $3.06 per share, for a total transaction of $382,500.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 425,000 shares of company stock valued at $1,292,500. 17.16% of the stock is owned by corporate insiders.

Audacy stock opened at $3.32 on Tuesday. The stock has a market cap of $469.56 million, a PE ratio of -2.23 and a beta of 1.81. The stock’s fifty day moving average price is $3.39. Audacy, Inc. has a 12-month low of $1.32 and a 12-month high of $6.34. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 2.75.

Audacy (NYSEARCA:AUD) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.08). Audacy had a negative return on equity of 28.33% and a negative net margin of 17.60%. On average, sell-side analysts expect that Audacy, Inc. will post 0.12 earnings per share for the current year.

Separately, Zacks Investment Research downgraded shares of Audacy from a “hold” rating to a “sell” rating in a report on Monday, August 2nd.

About Audacy

Audacy, Inc engages in the provision of media and entertainment services. Its portfolio includes radio stations, markets, media brands, events, and case studies. The firm creates live, original events, as well as large-scale concerts, intimate live performances with big artists on small stages, and crafted food and beverage events.

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Institutional Ownership by Quarter for Audacy (NYSEARCA:AUD)

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