Emmis Communications Co. (EMMS) Shares Bought by Renaissance Technologies LLC

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Renaissance Technologies LLC grew its position in shares of Emmis Communications Co. (NASDAQ:EMMS) by 10.2% during the second quarter, Holdings Channel reports. The institutional investor owned 231,175 shares of the company’s stock after buying an additional 21,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Emmis Communications were worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Dimensional Fund Advisors LP lifted its holdings in Emmis Communications by 19.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 195,976 shares of the company’s stock worth $1,037,000 after buying an additional 31,442 shares during the last quarter. 35.16% of the stock is owned by institutional investors.

Shares of Emmis Communications stock opened at $4.26 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $56.70 million, a PE ratio of 1.62 and a beta of 0.51. Emmis Communications Co. has a twelve month low of $2.83 and a twelve month high of $5.84.

Emmis Communications (NASDAQ:EMMS) last announced its quarterly earnings results on Thursday, October 11th. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $32.06 million for the quarter. Emmis Communications had a return on equity of 41.04% and a net margin of 28.32%.

Separately, TheStreet downgraded Emmis Communications from a “c” rating to a “d+” rating in a report on Monday, October 15th.

In other news, CEO Jeffrey H. Smulyan sold 45,045 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $4.32, for a total transaction of $194,594.40. Following the sale, the chief executive officer now directly owns 159,836 shares in the company, valued at approximately $690,491.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick M. Walsh sold 25,000 shares of the stock in a transaction that occurred on Friday, October 12th. The stock was sold at an average price of $4.60, for a total value of $115,000.00. Following the sale, the chief operating officer now owns 255,759 shares in the company, valued at $1,176,491.40. The disclosure for this sale can be found here. 32.30% of the stock is currently owned by corporate insiders.

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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