Goldman Sachs Group Inc. decreased its stake in shares of Entercom Communications Corporation (NYSE:ETM) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,193 shares of the company’s stock after selling 13,092 shares during the period. Goldman Sachs Group Inc. owned 0.59% of Entercom Communications Corporation worth $3,421,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Entercom Communications Corporation by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,638,220 shares of the company’s stock valued at $25,065,000 after buying an additional 85,118 shares during the period. Bank of Montreal Can raised its position in Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock valued at $3,515,000 after buying an additional 245,000 shares during the period. State Board of Administration of Florida Retirement System raised its position in 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 valued at $311,000 after buying an additional 720 shares during the period. Russell Investments Group Ltd. bought a new position in Entercom Communications Corporation during the fourth quarter valued at about $465,000. Finally, Renaissance Technologies LLC raised its position in Entercom Communications Corporation by 566.0% in the fourth quarter. Renaissance Technologies LLC now owns 211,133 shares of the company’s stock valued at $3,230,000 after buying an additional 179,433 shares during the period. Institutional investors own 49.55% of the company’s stock.
Entercom Communications Corporation (ETM) remained flat at $9.95 during midday trading on Wednesday. The stock had a trading volume of 283,749 shares. Entercom Communications Corporation has a 52-week low of $9.50 and a 52-week high of $16.55. The stock has a market cap of $405.08 million, a P/E ratio of 22.31 and a beta of 1.17. The company has a 50 day moving average of $9.99 and a 200-day moving average of $12.32.
Entercom Communications Corporation (NYSE:ETM) last announced its earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $125 million during the quarter, compared to analysts’ expectations of $121.42 million. Entercom Communications Corporation had a return on equity of 8.50% and a net margin of 4.27%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Equities research analysts anticipate that Entercom Communications Corporation will post $0.91 EPS for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th will be given 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 66.67%.
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Several equities analysts have issued reports on ETM shares. Zacks Investment Research lowered Entercom Communications Corporation from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 3rd. ValuEngine downgraded Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a report on Monday, July 31st. Finally, TheStreet downgraded Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th.
In related news, Chairman Joseph M. Field acquired 135,832 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was bought at an average cost of $9.73 per share, with a total value of $1,321,645.36. Following the transaction, the chairman now owns 1,006,844 shares of the company’s stock, valued at $9,796,592.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph M. Field acquired 219,073 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of $10.07 per share, with a total value of $2,206,065.11. Following the completion of the transaction, the chairman now directly owns 1,006,844 shares in the company, valued at approximately $10,138,919.08. The disclosure for this purchase can be found here. Insiders have acquired a total of 583,087 shares of company stock valued at $5,775,962 over the last ninety days. 32.57% of the stock is owned by insiders.
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.
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