Entercom Communications Corp. (NYSE:ETM) Chairman Acquires $1,192,000.00 in Stock

Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field bought 200,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was purchased at an average price of $5.96 per share, for a total transaction of $1,192,000.00. Following the transaction, the chairman now owns 30,125 shares of the company’s stock, valued at $179,545. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

ETM traded down $0.23 on Thursday, hitting $5.65. 1,146,600 shares of the company were exchanged, compared to its average volume of 1,246,607. Entercom Communications Corp. has a twelve month low of $5.16 and a twelve month high of $8.60. The stock has a market capitalization of $829.99 million, a P/E ratio of 6.73 and a beta of 1.24. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.48. The business has a 50-day moving average price of $5.96.

Entercom Communications (NYSE:ETM) last released its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. The firm had revenue of $309.01 million during the quarter, compared to analysts’ expectations of $309.30 million. Entercom Communications’s revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Entercom Communications Corp. will post 0.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend was Friday, June 14th. Entercom Communications’s dividend payout ratio (DPR) is 42.86%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Entercom Communications in the 4th quarter valued at about $29,000. Comerica Bank purchased a new stake in shares of Entercom Communications in the 1st quarter valued at about $93,000. Covington Capital Management purchased a new stake in shares of Entercom Communications in the 4th quarter valued at about $101,000. SG Americas Securities LLC purchased a new stake in shares of Entercom Communications in the 1st quarter valued at about $114,000. Finally, Legal & General Group Plc lifted its holdings in shares of Entercom Communications by 10.9% in the 4th quarter. Legal & General Group Plc now owns 22,475 shares of the company’s stock valued at $128,000 after purchasing an additional 2,212 shares during the last quarter. 80.20% of the stock is owned by institutional investors.

A number of equities analysts recently commented on ETM shares. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. B. Riley began coverage on Entercom Communications in a research report on Thursday, April 18th. They set a “buy” rating and a $7.75 price objective on the stock. TheStreet cut 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th. Finally, ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Entercom Communications presently has a consensus rating of “Buy” and a consensus price target of $5.14.

Entercom Communications Company Profile

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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

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