Entercom Communications (NYSE:ETM) Stock Price Down 5.8%

Shares of Entercom Communications Corp. (NYSE:ETM) were down 5.8% during trading on Thursday . The stock traded as low as $5.35 and last traded at $5.35, approximately 931,109 shares changed hands during trading. A decline of 24% from the average daily volume of 1,219,808 shares. The stock had previously closed at $5.68.

Several analysts have commented on ETM shares. B. Riley started coverage on shares of Entercom Communications in a research report on Thursday, April 18th. They set a “buy” rating and a $7.75 price target for the company. Zacks Investment Research raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, ValuEngine lowered shares of Entercom Communications from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Entercom Communications presently has a consensus rating of “Buy” and a consensus price target of $5.14.

The company has a market capitalization of $810.01 million, a PE ratio of 6.32 and a beta of 1.21. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day moving average is $5.91.

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

In related news, Chairman David J. Field acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $5.85 per share, with a total value of $175,500.00. Following the transaction, the chairman now directly owns 1,863,658 shares of the company’s stock, valued at approximately $10,902,399.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Joseph M. Field acquired 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average cost of $5.89 per share, with a total value of $1,767,000.00. Following the completion of the transaction, the chairman now directly owns 30,125 shares in the company, valued at $177,436.25. The disclosure for this purchase can be found here. Insiders purchased a total of 1,186,476 shares of company stock valued at $7,047,356 over the last ninety days. 14.04% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in ETM. Comerica Bank purchased a new position in shares of Entercom Communications in the 1st quarter valued at approximately $93,000. Creative Planning purchased a new position in Entercom Communications during the 2nd quarter worth approximately $102,000. SG Americas Securities LLC purchased a new position in Entercom Communications during the 1st quarter worth approximately $114,000. Legal & General Group Plc raised its position in Entercom Communications by 10.9% during the 4th quarter. Legal & General Group Plc now owns 22,475 shares of the company’s stock worth $128,000 after buying an additional 2,212 shares during the last quarter. Finally, Bailard Inc. purchased a new position in Entercom Communications during the 1st quarter worth approximately $131,000. 80.21% of the stock is owned by hedge funds and other institutional investors.

About Entercom Communications (NYSE:ETM)

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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