Entercom Communications (NYSE:ETM) Chairman Joseph M. Field acquired 125,000 shares of the company’s stock in a transaction that occurred on Friday, April 13th. The stock was purchased at an average cost of $9.65 per share, with a total value of $1,206,250.00. Following the acquisition, the chairman now directly owns 6,071,022 shares of the company’s stock, valued at approximately $58,585,362.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of ETM opened at $9.90 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.05. Entercom Communications has a 12-month low of $9.25 and a 12-month high of $13.60. The stock has a market capitalization of $1,302.17, a P/E ratio of -22.00 and a beta of 1.08.
Entercom Communications (NYSE:ETM) last announced its earnings results on Thursday, March 8th. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.12). The company had revenue of $246.61 million for the quarter, compared to analysts’ expectations of $276.82 million. Entercom Communications had a return on equity of 0.08% and a net margin of 39.55%. The company’s quarterly revenue was up 98.0% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. equities research analysts anticipate that Entercom Communications will post 1.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.64%. The ex-dividend date was Tuesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is presently -80.00%.
A number of equities research analysts recently issued reports on the stock. ValuEngine raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of Entercom Communications from a “strong sell” rating to a “hold” rating in a report on Thursday, January 18th. Finally, Noble Financial reissued a “buy” rating on shares of Entercom Communications in a report on Friday, March 9th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.00.
A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in Entercom Communications during the fourth quarter worth about $140,000. Fairpointe Capital LLC purchased a new position in Entercom Communications during the fourth quarter worth about $874,000. MetLife Investment Advisors LLC purchased a new position in Entercom Communications during the fourth quarter worth about $647,000. Fort Baker Capital Management LP purchased a new position in Entercom Communications during the fourth quarter worth about $6,318,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Entercom Communications by 93.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 39,302 shares of the company’s stock worth $424,000 after buying an additional 18,984 shares during the period. 84.65% of the stock is owned by institutional investors.
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About Entercom Communications
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.
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