Entercom Communications Corp. (ETM) Chairman Acquires $2,612,000.00 in Stock

Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field purchased 400,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $2,612,000.00. Following the completion of the transaction, the chairman now directly owns 40,990 shares in the company, valued at $267,664.70. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shares of Entercom Communications stock traded up $0.15 during trading on Monday, hitting $6.68. 620,600 shares of the stock were exchanged, compared to its average volume of 1,857,619. The firm has a market capitalization of $930.68 million, a PE ratio of -14.84 and a beta of 0.90. Entercom Communications Corp. has a 1-year low of $5.82 and a 1-year high of $12.05. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.68 and a quick ratio of 2.68.

Entercom Communications (NYSE:ETM) last released its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $378.50 million for the quarter, compared to analyst estimates of $378.00 million. Entercom Communications had a return on equity of 0.14% and a net margin of 19.89%. The firm’s revenue for the quarter was up 209.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, analysts expect that Entercom Communications Corp. will post 0.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 27th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, November 26th. This represents a $0.36 annualized dividend and a dividend yield of 5.39%. Entercom Communications’s dividend payout ratio is presently -80.00%.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Entercom Communications by 13.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,797,194 shares of the company’s stock valued at $85,298,000 after buying an additional 1,302,280 shares during the last quarter. BlackRock Inc. grew its stake in Entercom Communications by 8.8% in the 2nd quarter. BlackRock Inc. now owns 8,996,552 shares of the company’s stock valued at $67,925,000 after buying an additional 731,432 shares during the last quarter. Capital World Investors grew its stake in Entercom Communications by 113.8% in the 3rd quarter. Capital World Investors now owns 5,860,000 shares of the company’s stock valued at $46,294,000 after buying an additional 3,119,199 shares during the last quarter. Sessa Capital IM L.P. grew its stake in Entercom Communications by 6.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 5,200,000 shares of the company’s stock valued at $41,080,000 after buying an additional 299,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Entercom Communications by 37.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,333,431 shares of the company’s stock valued at $26,333,000 after buying an additional 915,153 shares during the last quarter. Institutional investors own 86.93% of the company’s stock.

Several research analysts have recently weighed in on ETM shares. Guggenheim started coverage on shares of Entercom Communications in a research note on Thursday, November 1st. They set a “buy” rating and a $8.50 price objective on the stock. Zacks Investment Research lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, ValuEngine upgraded shares of Entercom Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Entercom Communications has a consensus rating of “Hold” and an average price target of $8.42.

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About Entercom Communications

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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