Goldman Sachs Group Inc. decreased its position in shares of Entercom Communications Corporation (NYSE:ETM) by 5.2% during the first quarter, according to its most recent 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.
A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Entercom Communications Corporation by 13.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,856,433 shares of the company’s stock valued at $26,546,000 after buying an additional 218,213 shares during the last quarter. Vanguard Group Inc. increased its stake in Entercom Communications Corporation by 11.9% in the first quarter. Vanguard Group Inc. now owns 1,023,475 shares of the company’s stock valued at $14,636,000 after buying an additional 108,488 shares in the last quarter. State Street Corp increased its stake in Entercom Communications Corporation by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock valued at $6,674,000 after buying an additional 31,840 shares in the last quarter. Renaissance Technologies LLC increased its stake in Entercom Communications Corporation by 84.9% in the first quarter. Renaissance Technologies LLC now owns 390,300 shares of the company’s stock valued at $5,581,000 after buying an additional 179,167 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Entercom Communications Corporation by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 319,511 shares of the company’s stock valued at $4,569,000 after buying an additional 13,838 shares in the last quarter. 49.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Entercom Communications Corporation (ETM) traded up 0.746% during mid-day trading on Thursday, reaching $10.125. The company’s stock had a trading volume of 275,654 shares. Entercom Communications Corporation has a 12 month low of $9.45 and a 12 month high of $16.55. The firm has a market capitalization of $412.68 million, a P/E ratio of 22.702 and a beta of 1.17. The company has a 50 day moving average of $9.93 and a 200-day moving average of $12.06.
Entercom Communications Corporation (NYSE:ETM) last posted its earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The company had revenue of $125 million for the quarter, compared to analyst estimates of $121.42 million. During the same quarter in the prior year, the business posted $0.26 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Entercom Communications Corporation will post $0.91 EPS for the current year.
The company also recently disclosed a dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 11th. Entercom Communications Corporation’s payout ratio is 66.67%.
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ETM has been the subject of several research reports. Zacks Investment Research upgraded 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 lowered Entercom Communications Corporation from a “b” rating to a “c” rating in a research report on Monday, May 8th. ValuEngine lowered Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.00.
In other Entercom Communications Corporation news, Chairman Joseph M. Field acquired 219,073 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was bought at an average cost of $10.07 per share, with a total value of $2,206,065.11. Following the acquisition, the chairman now owns 1,006,844 shares in the company, valued at $10,138,919.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph M. Field acquired 4,793 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average cost of $9.95 per share, with a total value of $47,690.35. Following the completion of the acquisition, the chairman now owns 1,006,844 shares in the company, valued at approximately $10,018,097.80. The disclosure for this purchase can be found here. Insiders acquired a total of 378,639 shares of company stock valued at $3,777,077 over the last ninety days. 32.57% of the stock is currently owned by insiders.
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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