Dimensional Fund Advisors LP increased its position in shares of Entercom Communications Corporation (NYSE:ETM) by 13.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,856,433 shares of the company’s stock after buying an additional 218,213 shares during the period. Dimensional Fund Advisors LP owned 4.56% of Entercom Communications Corporation worth $26,546,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Entercom Communications Corporation by 3.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,300 shares of the company’s stock worth $311,000 after buying an additional 720 shares in the last quarter. American International Group Inc. boosted its stake in shares of Entercom Communications Corporation by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock worth $229,000 after buying an additional 1,065 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Entercom Communications Corporation by 2.9% in the first quarter. Teachers Advisors LLC now owns 60,887 shares of the company’s stock worth $871,000 after buying an additional 1,744 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Entercom Communications Corporation by 16.7% in the first quarter. Eqis Capital Management Inc. now owns 19,713 shares of the company’s stock worth $282,000 after buying an additional 2,816 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Entercom Communications Corporation by 4.1% in the first quarter. Prudential Financial Inc. now owns 126,528 shares of the company’s stock worth $1,809,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 49.99% of the company’s stock.
Shares of Entercom Communications Corporation (ETM) traded down 1.55% during midday trading on Friday, hitting $9.55. 268,957 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $10.01 and its 200 day moving average price is $12.38. The firm has a market cap of $388.80 million, a PE ratio of 21.41 and a beta of 1.17. Entercom Communications Corporation has a one year low of $9.50 and a one year high of $16.55.
Entercom Communications Corporation (NYSE:ETM) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The business had revenue of $125 million for the quarter, compared to analyst estimates of $121.42 million. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.52%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. Equities research analysts forecast that Entercom Communications Corporation will post $0.91 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 11th. Entercom Communications Corporation’s payout ratio is currently 66.67%.
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A number of brokerages have weighed in on ETM. Zacks Investment Research upgraded shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Thursday, May 11th. TheStreet cut shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a research report on Monday, May 8th. Finally, ValuEngine cut shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
In related news, Chairman Joseph M. Field acquired 4,793 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were acquired at an average cost of $9.95 per share, for a total transaction of $47,690.35. Following the acquisition, the chairman now directly owns 1,006,844 shares in the company, valued at approximately $10,018,097.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Joseph M. Field acquired 135,832 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were bought at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the completion of the acquisition, the chairman now owns 1,006,844 shares in the company, valued at $9,796,592.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 583,087 shares of company stock worth $5,775,962. Insiders own 32.57% of the company’s stock.
Entercom Communications Corporation Company Profile
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.
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