Aristeia Capital LLC lifted its position in Entercom Communications Corp. (NYSE:ETM) by 1,472.8% in the fourth quarter, HoldingsChannel reports. The firm owned 3,909,026 shares of the company’s stock after purchasing an additional 3,660,480 shares during the quarter. Entercom Communications comprises about 1.8% of Aristeia Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Aristeia Capital LLC owned approximately 0.10% of Entercom Communications worth $42,217,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Entercom Communications in the third quarter worth $186,000. Amalgamated Bank bought a new position in shares of Entercom Communications during the fourth quarter worth $185,000. Voya Investment Management LLC boosted its position in shares of Entercom Communications by 14.0% during 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. AXA boosted its position in shares of Entercom Communications by 35.6% during 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, Ellington Management Group LLC bought a new position in shares of Entercom Communications during the fourth quarter worth $222,000.
Entercom Communications Corp. (ETM) opened at $10.00 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.21 and a current ratio of 2.21. Entercom Communications Corp. has a 12-month low of $9.40 and a 12-month high of $14.55. The firm has a market cap of $407.29, a price-to-earnings ratio of 3.88, a P/E/G ratio of 4.42 and a beta of 1.06.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.60%. Entercom Communications’s dividend payout ratio is 13.95%.
A number of brokerages recently weighed in on ETM. ValuEngine lowered shares of Entercom Communications from a “hold” rating to a “sell” rating in a research report on Saturday. Noble Financial restated a “buy” rating on shares of Entercom Communications in a research report on Friday. Finally, Zacks Investment Research lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday. 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 presently has a consensus rating of “Hold” and an average target price of $12.00.
Entercom Communications 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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