Entercom Communications (NYSE:ETM) Chairman Joseph M. Field bought 125,000 shares of the company’s stock in a transaction on Friday, April 13th. The shares were bought at an average price of $9.65 per share, with a total value of $1,206,250.00. Following the completion of the transaction, the chairman now owns 6,071,022 shares of the company’s stock, valued at $58,585,362.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
ETM stock opened at $10.25 on Wednesday. The company has a market cap of $1,302.17, a price-to-earnings ratio of -22.78 and a beta of 1.08. Entercom Communications has a one year low of $9.25 and a one year high of $13.60. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.05.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.12). The business had revenue of $246.61 million for the quarter, compared to analysts’ expectations of $276.82 million. Entercom Communications had a return on equity of 0.08% and a net margin of 39.55%. The company’s revenue was up 98.0% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. analysts anticipate that Entercom Communications will post 1.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is presently -80.00%.
ETM has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Entercom Communications from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. ValuEngine lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Noble Financial reiterated a “buy” rating on shares of Entercom Communications in a research report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.00.
Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Entercom Communications by 377.7% during the fourth quarter. BlackRock Inc. now owns 8,319,966 shares of the company’s stock worth $89,856,000 after acquiring an additional 6,578,244 shares in the last quarter. Aristeia Capital LLC raised its stake in shares of Entercom Communications by 1,472.8% during the fourth quarter. Aristeia Capital LLC now owns 3,909,026 shares of the company’s stock worth $42,217,000 after acquiring an additional 3,660,480 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Entercom Communications by 443.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,732,400 shares of the company’s stock worth $29,510,000 after acquiring an additional 2,229,800 shares in the last quarter. Gruss Capital Management LP raised its stake in shares of Entercom Communications by 8.2% during the fourth quarter. Gruss Capital Management LP now owns 1,525,000 shares of the company’s stock worth $16,470,000 after acquiring an additional 115,765 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new position in shares of Entercom Communications during the fourth quarter worth approximately $15,851,000. 84.65% of the stock is currently owned by hedge funds and other institutional investors.
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Entercom Communications Company Profile
Entercom Communications Corp. operates as a radio broadcasting company in the United States. 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 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
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