State Board of Administration of Florida Retirement System Acquires Shares of 19,580 Entercom Communications Corp. (ETM)

State Board of Administration of Florida Retirement System acquired a new stake in shares of Entercom Communications Corp. (NYSE:ETM) during the second quarter, Holdings Channel reports. The fund acquired 19,580 shares of the company’s stock, valued at approximately $266,000.

Other hedge funds also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in Entercom Communications Corp. during the second quarter valued at $430,000. Chicago Equity Partners LLC bought a new stake in Entercom Communications Corp. during the second quarter valued at $350,000. ClariVest Asset Management LLC boosted its stake in Entercom Communications Corp. by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 216,114 shares of the company’s stock valued at $2,933,000 after buying an additional 700 shares during the period. American Century Companies Inc. raised its position in Entercom Communications Corp. by 30.9% in the second quarter. American Century Companies Inc. now owns 358,288 shares of the company’s stock valued at $4,862,000 after buying an additional 84,602 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in Entercom Communications Corp. by 4.3% in the second quarter. Eqis Capital Management Inc. now owns 14,141 shares of the company’s stock valued at $192,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 45.22% of the company’s stock.

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

Entercom Communications Corp. (NYSE:ETM) traded up 0.24% during trading on Friday, hitting $12.79. 36,537 shares of the company traded hands. Entercom Communications Corp. has a 52 week low of $8.88 and a 52 week high of $14.94. The stock has a market capitalization of $519.30 million, a PE ratio of 13.77 and a beta of 1.59. The company’s 50 day moving average is $13.28 and its 200-day moving average is $12.87.

Entercom Communications Corp. (NYSE:ETM) last released its earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. Entercom Communications Corp. had a net margin of 8.41% and a return on equity of 9.41%. The firm had revenue of $120.50 million for the quarter, compared to the consensus estimate of $119.12 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts predict that Entercom Communications Corp. will post $0.95 earnings per share for the current year.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Entercom Communications Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 15th. TheStreet raised shares of Entercom Communications Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th.

Entercom Communications Corp. Company Profile

Entercom Communications Corp. is a radio broadcasting company. The Company has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Company operates through the radio broadcasting segment. The Company sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths.

5 Day Chart for NYSE:ETM

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