Notable News Spotlight: Emmis Communications Corporation (NASDAQ:EMMS)

Emmis Communications Corporation (NASDAQ:EMMS) changed -1.62% to recent value of $1.82. The stock transacted 4398 shares during most recent day however it has an average volume of 21.46K shares. It spotted trading -71.30% off 52-week high price. On the other end, the stock has been noted 6.43% away from the low price over the last 52-weeks.

On April 24, 2020, Emmis Communications Corporation (NASDAQ:EMMS) reported that it will voluntarily delist its Class A Common Stock from the Nasdaq Stock Market, and based upon ownership of its shares by fewer than 300 holders of record, deregister its Class A Common Stock under the Securities Exchange Act of 1934 and suspend its public reporting obligations.

Jeffrey H. Smulyan, the Company’s CEO stated, We’ve undertaken a detailed and thoughtful review of the costs and benefits associated with being a Nasdaq-listed and SEC reporting company.  After careful consideration, our Board of Directors unanimously decided to voluntarily delist from Nasdaq and deregister with the SEC as we believe the expected savings of more than $1 Million per year outweigh the advantages of continuing as a Nasdaq-listed and SEC reporting company.

The Company intends to file a Form 25 with the Securities and Exchange Commission (the SEC) on or about May 4, 2020, in order to delist from Nasdaq. The Company anticipates that the last day of trading on Nasdaq will be on or about May 13, 2020.  The Company’s Class A Common Stock may thereafter be eligible for trading on an over-the-counter market, if one or more brokers chooses to make a market for the Company’s Class A Common Stock; however, there can be no assurances regarding any such trading.

EMMS has a gross margin of 18.50% and an operating margin of -23.90%. Its earnings per share (EPS) expected to touch remained -67.70% for this year while earning per share for the next 5-years is expected to reach at 1.00%.

The company has 14.18M of outstanding shares and 11.06M shares were floated in the market. According to the most recent quarter its current ratio was 3.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of -5.20% from the mean of 20 days, -31.74% from mean of 50 days SMA and performed -54.03% from mean of 200 days price. Company’s performance for the week was -3.70%, -3.70% for month and YTD performance remained -51.93%.

John Gonzalez covers business and finance news. He is the only person we trust to provide breaking news in the finance category. Having already completed an Associates Degree in Psychology, John Gonzalez is now finishing his Bachelor’s degree in Communications. In preparation for working in the advertisement sector, John is writing financial content and analysis. On a daily basis, he works on articles regarding the following topics: business, top trends, technology, and politics.

Address: 7302 Benton Street, Arvada, CO 80003, USA


Zip Code: 80003

Phone Number: 303-420-7222

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