Separately, TheStreet lowered shares of Emmis Communications from a c rating to a d+ rating in a research note on Thursday, June 6th.
Shares of NASDAQ:EMMS traded up $0.14 during trading on Thursday, reaching $5.39. The company had a trading volume of 26,596 shares, compared to its average volume of 66,322. The business’s fifty day moving average is $5.31. The firm has a market cap of $68.96 million, a price-to-earnings ratio of 47.73 and a beta of 1.24. Emmis Communications has a twelve month low of $3.13 and a twelve month high of $6.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.84 and a quick ratio of 0.84.
In other news, insider Jeffrey H. Smulyan sold 33,385 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $5.62, for a total value of $187,623.70. Following the completion of the sale, the insider now directly owns 62,447 shares of the company’s stock, valued at approximately $350,952.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gregory T. Loewen sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $6.50, for a total transaction of $48,750.00. Following the sale, the insider now directly owns 122,146 shares of the company’s stock, valued at $793,949. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,052 shares of company stock valued at $440,326. Company insiders own 32.30% of the company’s stock.
An institutional investor recently raised its position in Emmis Communications stock. Zazove Associates LLC boosted its holdings in shares of Emmis Communications Co. (NASDAQ:EMMS) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,085,890 shares of the company’s stock after purchasing an additional 6,500 shares during the period. Zazove Associates LLC owned approximately 8.26% of Emmis Communications worth $5,158,000 at the end of the most recent quarter. 36.37% of the stock is owned by institutional investors.
Emmis Communications Company Profile
Emmis Communications Corporation, a diversified media company, engages in radio broadcasting activities in the United States. The company operates in three segments: Radio, Publishing, and Corporate & Emerging Technologies. It operates 11 FM and 3 AM radio stations in New York, Los Angeles, Indianapolis, and Austin, as well as publishes Indianapolis monthly magazine.
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