Entercom Communications Corp. (NYSE:ETM) Director Susan K. Neely purchased 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $3.53 per share, with a total value of $24,710.00. Following the transaction, the director now owns 34,223 shares of the company’s stock, valued at approximately $120,807.19. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NYSE:ETM traded up $0.15 during trading hours on Thursday, hitting $3.59. 2,252,527 shares of the company’s stock traded hands, compared to its average volume of 1,375,123. Entercom Communications Corp. has a 1 year low of $2.94 and a 1 year high of $8.30. The firm has a fifty day simple moving average of $5.44. The firm has a market cap of $474.89 million, a price-to-earnings ratio of 4.27 and a beta of 1.21. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.48.
Entercom Communications (NYSE:ETM) last announced its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.09). Entercom Communications had a negative net margin of 21.69% and a positive return on equity of 7.80%. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $386.57 million. During the same quarter last year, the firm earned $0.01 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Entercom Communications Corp. will post 0.98 EPS for the current year.
ETM has been the subject of several recent research reports. Zacks Investment Research upgraded Entercom Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. B. Riley initiated coverage on Entercom Communications in a research report on Thursday, April 18th. They issued a “buy” rating and a $7.75 price target for the company. Finally, ValuEngine lowered Entercom Communications from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.14.
Several large investors have recently made changes to their positions in ETM. LSV Asset Management boosted its position in shares of Entercom Communications by 142.2% during the first quarter. LSV Asset Management now owns 7,292,900 shares of the company’s stock valued at $38,287,000 after buying an additional 4,281,498 shares during the period. Goldentree Asset Management LP purchased a new position in shares of Entercom Communications during the second quarter valued at approximately $11,974,000. JPMorgan Chase & Co. boosted its position in shares of Entercom Communications by 16.8% during the first quarter. JPMorgan Chase & Co. now owns 11,574,387 shares of the company’s stock valued at $60,765,000 after buying an additional 1,662,205 shares during the period. Prudential Financial Inc. boosted its position in shares of Entercom Communications by 148.2% during the second quarter. Prudential Financial Inc. now owns 1,927,692 shares of the company’s stock valued at $11,180,000 after buying an additional 1,151,129 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Entercom Communications by 32.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,399,646 shares of the company’s stock valued at $25,122,000 after buying an additional 1,066,215 shares during the period. Institutional investors and hedge funds own 79.51% of the company’s stock.
Entercom Communications Company Profile
Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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