Credit Suisse AG Has $259,000 Holdings in Entercom Communications Corporation (ETM)

Credit Suisse AG lowered its holdings in shares of Entercom Communications Corporation (NYSE:ETM) by 42.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,088 shares of the company’s stock after selling 13,330 shares during the period. Credit Suisse AG’s holdings in Entercom Communications Corporation were worth $259,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Entercom Communications Corporation by 11.9% during the 1st quarter. Vanguard Group Inc. now owns 1,023,475 shares of the company’s stock valued at $14,636,000 after purchasing an additional 108,488 shares during the last quarter. American International Group Inc. grew its holdings in shares of Entercom Communications Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 15,990 shares of the company’s stock valued at $229,000 after purchasing an additional 1,065 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Entercom Communications Corporation by 18.0% during the 1st quarter. Wells Fargo & Company MN now owns 40,325 shares of the company’s stock valued at $577,000 after purchasing an additional 6,145 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Entercom Communications Corporation by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 319,511 shares of the company’s stock valued at $4,569,000 after purchasing an additional 13,838 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Entercom Communications Corporation by 4.1% during the 1st quarter. Prudential Financial Inc. now owns 126,528 shares of the company’s stock valued at $1,809,000 after purchasing an additional 5,000 shares during the last quarter. 55.55% of the stock is currently owned by institutional investors.

ETM has been the topic of several recent research reports. ValuEngine lowered shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. BidaskClub raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.00.

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Shares of Entercom Communications Corporation (NYSE ETM) opened at 11.20 on Friday. The firm’s 50-day moving average is $10.19 and its 200 day moving average is $11.21. The stock has a market cap of $456.50 million, a PE ratio of 25.11 and a beta of 1.13. Entercom Communications Corporation has a 12 month low of $9.45 and a 12 month high of $16.55.

Entercom Communications Corporation (NYSE:ETM) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The business had revenue of $125.00 million for the quarter, compared to analysts’ expectations of $121.42 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Entercom Communications Corporation will post $0.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 9.82%. The ex-dividend date of this dividend was Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio (DPR) is 66.67%.

Entercom Communications Corporation Profile

Entercom Communications Corp. is a radio broadcasting company. The Company sells advertising time to local, regional and national advertisers and national network advertisers, purchasing spot commercials in varying lengths. It focuses on station-related digital platforms, which allow for audience interaction and participation, and integrated local digital marketing solutions and station events.

Institutional Ownership by Quarter for Entercom Communications Corporation (NYSE:ETM)

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