MetLife Investment Advisors LLC lowered its position in shares of Entercom Communications Corp. (NYSE:ETM) by 26.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 57,510 shares of the company’s stock after selling 20,992 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Entercom Communications were worth $328,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Entercom Communications during the 4th quarter worth about $29,000. Cutler Group LP lifted its position in Entercom Communications by 51.6% during the 4th quarter. Cutler Group LP now owns 13,127 shares of the company’s stock worth $74,000 after acquiring an additional 4,468 shares in the last quarter. WealthTrust Axiom LLC acquired a new position in Entercom Communications during the 4th quarter worth approximately $92,000. Quantamental Technologies LLC acquired a new position in Entercom Communications during the 4th quarter worth approximately $95,000. Finally, Great West Life Assurance Co. Can lifted its position in Entercom Communications by 8.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 24,481 shares of the company’s stock worth $133,000 after acquiring an additional 1,821 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
In other Entercom Communications news, Chairman Joseph M. Field bought 200,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were bought at an average cost of $5.55 per share, with a total value of $1,110,000.00. Following the transaction, the chairman now directly owns 26,378 shares in the company, valued at approximately $146,397.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph M. Field bought 30,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $5.25 per share, for a total transaction of $157,500.00. Following the completion of the transaction, the chairman now owns 26,378 shares in the company, valued at $138,484.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 830,000 shares of company stock worth $4,980,500 over the last three months. 14.04% of the stock is currently owned by corporate insiders.
ETM has been the topic of several recent research reports. boosted their price target on Entercom Communications to $1.34 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. ValuEngine lowered Entercom Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. boosted their price target on Entercom Communications to $1.34 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Finally, TheStreet lowered Entercom Communications from a “c” rating to a “d+” rating in a research report on Friday, March 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $5.59.
Entercom Communications stock opened at $6.14 on Tuesday. The company has a market cap of $884.68 million, a P/E ratio of 12.00 and a beta of 1.07. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 1.40. Entercom Communications Corp. has a one year low of $5.16 and a one year high of $10.95.
Entercom Communications (NYSE:ETM) last released its quarterly earnings results on Friday, February 22nd. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). The company had revenue of $411.38 million for the quarter, compared to analyst estimates of $410.00 million. Entercom Communications had a positive return on equity of 4.40% and a negative net margin of 24.71%. The business’s revenue was up 66.8% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 5.86%. The ex-dividend date was Wednesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is presently 42.86%.
Entercom Communications 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.
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