Short Interest in Entercom Communications Corporation (ETM) Grows By 55.0%

Entercom Communications Corporation (NYSE:ETM) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 16,799,350 shares, an increase of 55.0% from the October 13th total of 10,838,352 shares. Based on an average daily trading volume, of 1,777,049 shares, the days-to-cover ratio is currently 9.5 days. Currently, 82.9% of the company’s shares are short sold.

Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st.



A number of institutional investors have recently added to or reduced their stakes in ETM. Gruss Capital Management LP boosted its stake in Entercom Communications Corporation by 661.7% during the 3rd quarter. Gruss Capital Management LP now owns 1,409,235 shares of the company’s stock worth $16,136,000 after acquiring an additional 1,224,235 shares during the last quarter. Principal Financial Group Inc. bought a new position in Entercom Communications Corporation during the 3rd quarter worth approximately $9,455,000. WS Management Lllp bought a new position in Entercom Communications Corporation during the 3rd quarter worth approximately $8,600,000. Rovida Advisors Inc. bought a new position in Entercom Communications Corporation during the 3rd quarter worth approximately $6,521,000. Finally, Northern Trust Corp boosted its stake in Entercom Communications Corporation by 35.5% during the 2nd quarter. Northern Trust Corp now owns 1,465,228 shares of the company’s stock worth $15,165,000 after acquiring an additional 383,788 shares during the last quarter. 57.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of Entercom Communications Corporation (NYSE:ETM) opened at $11.25 on Friday. Entercom Communications Corporation has a 1 year low of $9.45 and a 1 year high of $16.55. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market cap of $452.09, a P/E ratio of 13.70, a PEG ratio of 12.06 and a beta of 1.09.

Entercom Communications Corporation (NYSE:ETM) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Entercom Communications Corporation had a net margin of 2.69% and a return on equity of 8.67%. The company had revenue of $122.30 million during the quarter, compared to analysts’ expectations of $120.76 million. During the same quarter in the previous year, the company earned $0.27 EPS. Entercom Communications Corporation’s revenue was up .6% on a year-over-year basis. research analysts expect that Entercom Communications Corporation will post 0.46 earnings per share for the current year.

Entercom Communications Corporation declared that its board has authorized a stock repurchase program on Thursday, November 2nd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 22.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Monday, November 27th. Entercom Communications Corporation’s dividend payout ratio is 115.38%.

TRADEMARK VIOLATION NOTICE: “Short Interest in Entercom Communications Corporation (ETM) Grows By 55.0%” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/17/short-interest-in-entercom-communications-corporation-etm-grows-by-55-0.html.

About Entercom Communications Corporation

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.

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

Leave a Reply