Emmis Communications Co. (NASDAQ:EMMS) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 6,600 shares, a drop of 57.7% from the June 15th total of 15,600 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 43,000 shares, the short-interest ratio is currently 0.2 days.

EMMS stock traded up $0.04 during midday trading on Friday, hitting $5.58. The company’s stock had a trading volume of 13,680 shares, compared to its average volume of 110,100. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.94. Emmis Communications has a 52-week low of $3.13 and a 52-week high of $6.75. The company has a market cap of $73.29 million, a price-to-earnings ratio of 50.73 and a beta of 1.27. The firm has a 50-day moving average of $5.09.

Emmis Communications (NASDAQ:EMMS) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.13 EPS for the quarter. Emmis Communications had a net margin of 1.35% and a return on equity of 1.52%. The company had revenue of $27.77 million during the quarter.

A number of equities analysts recently weighed in on EMMS shares. TheStreet cut shares of Zumiez from a “b” rating to a “c+” rating in a research report on Thursday, June 6th. ValuEngine cut shares of Virtu Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th.

In related news, insider Jeffrey H. Smulyan sold 33,385 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $5.62, for a total transaction of $187,623.70. Following the completion of the transaction, the insider now owns 62,447 shares of the company’s stock, valued at approximately $350,952.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey H. Smulyan sold 20,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $5.71, for a total transaction of $114,200.00. Following the transaction, the chief executive officer now directly owns 62,447 shares of the company’s stock, valued at approximately $356,572.37. The disclosure for this sale can be found here. Insiders have sold a total of 77,052 shares of company stock valued at $440,326 in the last ninety days. 32.30% of the stock is currently owned by corporate insiders.

About Emmis Communications

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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