Fmr LLC cut its stake in Entercom Communications Corp. (NYSE:ETM) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,498,550 shares of the company’s stock after selling 103,216 shares during the period. Fmr LLC owned approximately 9.47% of Entercom Communications worth $101,913,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC raised its holdings in Entercom Communications by 108.4% in the second quarter. Aperio Group LLC now owns 25,031 shares of the company’s stock valued at $189,000 after buying an additional 13,020 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Entercom Communications by 82.3% in the first quarter. Xact Kapitalforvaltning AB now owns 23,700 shares of the company’s stock valued at $229,000 after buying an additional 10,700 shares during the period. Abacus Planning Group Inc. purchased a new position in Entercom Communications in the second quarter valued at approximately $271,000. Unison Advisors LLC purchased a new position in Entercom Communications in the second quarter valued at approximately $317,000. Finally, Tower Research Capital LLC TRC raised its holdings in Entercom Communications by 421.0% in the second quarter. Tower Research Capital LLC TRC now owns 49,325 shares of the company’s stock valued at $372,000 after buying an additional 39,857 shares during the period. 85.75% of the stock is currently owned by institutional investors and hedge funds.
ETM has been the topic of several research reports. Zacks Investment Research lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Guggenheim initiated coverage on shares of Entercom Communications in a report on Thursday, November 1st. They issued a “buy” rating and a $8.50 price target on the stock. Finally, ValuEngine upgraded shares of Entercom Communications from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.42.
ETM opened at $7.12 on Friday. Entercom Communications Corp. has a 52-week low of $6.02 and a 52-week high of $12.43. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.13 and a quick ratio of 2.13.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $378.00 million. Entercom Communications had a net margin of 19.89% and a return on equity of 0.14%. The company’s revenue for the quarter was up 209.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, equities research analysts forecast that Entercom Communications Corp. will post 0.84 earnings per share for the current year.
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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.
Further Reading: Bear Market
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