Entercom Communications (ETM) Shares Up -1.9% After Insider Buying Activity

Entercom Communications (NYSE:ETM) shot up 1.9% on Wednesday after an insider bought additional shares in the company. The company traded as high as $7.85 and last traded at $7.60. 28,125 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 2,374,700 shares. The stock had previously closed at $7.75.

Specifically, Chairman Joseph M. Field acquired 200,000 shares of the stock in a transaction dated Monday, March 12th. The stock was bought at an average price of $9.95 per share, with a total value of $1,990,000.00. Following the completion of the transaction, the chairman now directly owns 3,971,897 shares of the company’s stock, valued at $39,520,375.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph M. Field acquired 50,000 shares of the stock in a transaction dated Tuesday, May 1st. The shares were bought at an average cost of $10.00 per share, with a total value of $500,000.00. Following the transaction, the chairman now directly owns 5,718,735 shares of the company’s stock, valued at $57,187,350. The disclosure for this purchase can be found here. Insiders have bought 3,275,749 shares of company stock valued at $31,136,927 in the last three months. 32.57% of the stock is owned by insiders.

Several brokerages have recently issued reports on ETM. ValuEngine raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Entercom Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications in a research report on Friday, March 9th.

The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market capitalization of $1.05 billion, a PE ratio of 60.00 and a beta of 1.07.

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

A number of institutional investors have recently added to or reduced their stakes in ETM. Private Advisor Group LLC bought a new position in Entercom Communications in the first quarter valued at $106,000. Bronfman E.L. Rothschild L.P. grew its position in Entercom Communications by 170.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 12,870 shares of the company’s stock valued at $124,000 after purchasing an additional 8,103 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in Entercom Communications in the fourth quarter valued at $140,000. Amalgamated Bank bought a new position in Entercom Communications in the fourth quarter valued at $185,000. Finally, AXA grew its position in Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock valued at $214,000 after purchasing an additional 5,200 shares in the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.

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.

Receive News & Ratings for Entercom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply