Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were purchased at an average cost of $9.99 per share, with a total value of $999,000.00. Following the completion of the acquisition, the chairman now directly owns 3,971,897 shares in the company, valued at $39,679,251.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Entercom Communications Corp. (ETM) opened at $9.85 on Wednesday. Entercom Communications Corp. has a 1-year low of $9.40 and a 1-year high of $14.55. The stock has a market cap of $405.25, a PE ratio of 38.27, a P/E/G ratio of 3.75 and a beta of 1.06. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 1.23.
Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.12). Entercom Communications had a net margin of 39.55% and a return on equity of 0.15%. The firm had revenue of $246.61 million for the quarter, compared to the consensus estimate of $276.82 million. During the same period in the prior year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was up 98.0% on a year-over-year basis. equities analysts predict that Entercom Communications Corp. will post 1.33 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its stake in shares of Entercom Communications by 7.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,395 shares of the company’s stock worth $284,000 after acquiring an additional 2,017 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Entercom Communications by 14.0% in the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock worth $201,000 after acquiring an additional 2,383 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Entercom Communications by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 24,943 shares of the company’s stock worth $258,000 after acquiring an additional 2,484 shares during the last quarter. AXA raised its stake in shares of Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after acquiring an additional 5,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Entercom Communications by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 115,438 shares of the company’s stock worth $1,322,000 after acquiring an additional 5,780 shares during the last quarter.
Several brokerages recently issued reports on ETM. ValuEngine downgraded shares of Entercom Communications from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, January 29th. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications in a report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.00.
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Entercom Communications Company 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.
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