Insider Buying: Entercom Communications (ETM) Chairman Buys 150,000 Shares of Stock

Entercom Communications (NYSE:ETM) Chairman Joseph M. Field bought 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The shares were acquired at an average cost of $7.52 per share, with a total value of $1,128,000.00. Following the completion of the transaction, the chairman now owns 6,261,897 shares in the company, valued at $47,089,465.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Joseph M. Field also recently made the following trade(s):

  • On Tuesday, May 8th, Joseph M. Field bought 52,562 shares of Entercom Communications stock. The shares were acquired at an average cost of $9.64 per share, with a total value of $506,697.68.
  • On Thursday, May 10th, Joseph M. Field bought 302,562 shares of Entercom Communications stock. The shares were acquired at an average cost of $8.19 per share, with a total value of $2,477,982.78.

Entercom Communications opened at $7.80 on Friday, MarketBeat.com reports. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.07. The firm has a market cap of $1.05 billion, a PE ratio of 60.00 and a beta of 1.07. Entercom Communications has a fifty-two week low of $7.57 and a fifty-two week high of $7.85.

Entercom Communications (NYSE:ETM) last posted its quarterly earnings results on Tuesday, May 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.17). Entercom Communications had a negative return on equity of 1.44% and a net margin of 28.86%. The firm had revenue of $300.60 million for the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s revenue was up 208.3% compared to the same quarter last year. equities analysts forecast that Entercom Communications will post 0.94 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AXA boosted its stake in Entercom Communications by 35.6% in the 4th quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after purchasing an additional 5,200 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Entercom Communications by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 115,438 shares of the company’s stock worth $1,322,000 after purchasing an additional 5,780 shares during the period. Clear Harbor Asset Management LLC boosted its stake in Entercom Communications by 46.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 22,707 shares of the company’s stock worth $245,000 after purchasing an additional 7,174 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Entercom Communications by 170.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 12,870 shares of the company’s stock worth $124,000 after purchasing an additional 8,103 shares during the period. Finally, Swiss National Bank boosted its stake in Entercom Communications by 3.9% in the 1st quarter. Swiss National Bank now owns 223,344 shares of the company’s stock worth $2,155,000 after purchasing an additional 8,400 shares during the period. Institutional investors and hedge funds own 86.89% of the company’s stock.

Several equities research analysts have recently issued reports on ETM shares. Zacks Investment Research raised Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Monday, January 29th. Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications in a research report on Friday, March 9th. Finally, ValuEngine lowered Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd.

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.

Insider Buying and Selling by Quarter for Entercom Communications (NYSE:ETM)

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