WealthTrust Axiom LLC Buys 5,000 Shares of Entercom Communications Corp. (NYSE:ETM)

WealthTrust Axiom LLC raised its stake in Entercom Communications Corp. (NYSE:ETM) by 27.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,158 shares of the company’s stock after purchasing an additional 5,000 shares during the period. WealthTrust Axiom LLC’s holdings in Entercom Communications were worth $77,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ETM. Goldentree Asset Management LP bought a new stake in Entercom Communications in the second quarter valued at $11,974,000. Marathon Asset Management LLP increased its position in shares of Entercom Communications by 42.2% during the third quarter. Marathon Asset Management LLP now owns 5,214,918 shares of the company’s stock worth $17,418,000 after acquiring an additional 1,548,588 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Entercom Communications by 148.2% during the second quarter. Prudential Financial Inc. now owns 1,927,692 shares of the company’s stock worth $11,180,000 after acquiring an additional 1,151,129 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Entercom Communications during the second quarter worth about $5,093,000. Finally, JPMorgan Chase & Co. increased its position in shares of Entercom Communications by 6.2% during the second quarter. JPMorgan Chase & Co. now owns 12,286,725 shares of the company’s stock worth $71,017,000 after acquiring an additional 712,338 shares in the last quarter. 77.77% of the stock is owned by hedge funds and other institutional investors.

Entercom Communications stock traded up $0.63 during midday trading on Friday, hitting $4.32. 3,629,845 shares of the stock were exchanged, compared to its average volume of 1,325,298. Entercom Communications Corp. has a 52-week low of $2.94 and a 52-week high of $7.94. The stock has a market capitalization of $531.53 million, a price-to-earnings ratio of 5.14 and a beta of 1.27. The business’s 50-day moving average price is $3.41 and its 200-day moving average price is $4.87. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.46.

Entercom Communications (NYSE:ETM) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.09). Entercom Communications had a positive return on equity of 7.96% and a negative net margin of 21.69%. The firm had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $386.57 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Entercom Communications Corp. will post 0.82 earnings per share for the current fiscal year.

ETM has been the subject of several recent research reports. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research report on Saturday, November 2nd. ValuEngine raised shares of Entercom Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co initiated coverage on shares of Entercom Communications in a research report on Monday, September 23rd. They set a “market perform” rating and a $4.00 target price for the company. Finally, B. Riley set a $6.00 target price on shares of Entercom Communications and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $3.34.

In other news, insider Richard J. Schmaeling purchased 55,676 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $3.61 per share, for a total transaction of $200,990.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have purchased 69,726 shares of company stock worth $248,613. 14.04% of the stock is owned by corporate insiders.

About Entercom Communications

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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Institutional Ownership by Quarter for Entercom Communications (NYSE:ETM)

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