Entercom Communications (ETM) Shares Down 5.4%

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Entercom Communications Corp. (NYSE:ETM) dropped 5.4% during mid-day trading on Thursday . The stock traded as low as $6.39 and last traded at $6.45. Approximately 1,869,929 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 1,393,803 shares. The stock had previously closed at $6.82.

ETM has been the subject of several research analyst reports. TheStreet downgraded Entercom Communications from a “c” rating to a “d+” rating in a research note on Friday, March 29th. ValuEngine downgraded Entercom Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. increased their price objective on Entercom Communications to $1.34 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. raised their price target on Entercom Communications to $1.34 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Finally, B. Riley began coverage on Entercom Communications in a research note on Thursday, April 18th. They set a “buy” rating and a $7.75 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Entercom Communications has a consensus rating of “Hold” and a consensus price target of $5.95.

The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 1.40. The company has a market cap of $969.78 million, a price-to-earnings ratio of 7.68 and a beta of 1.21.

Entercom Communications (NYSE:ETM) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Entercom Communications had a positive return on equity of 5.65% and a negative net margin of 23.42%. The business had revenue of $309.01 million for the quarter, compared to the consensus estimate of $309.30 million. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Entercom Communications Corp. will post 1 EPS for the current year.

In related news, Chairman Joseph M. Field acquired 200,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $5.55 per share, with a total value of $1,110,000.00. Following the purchase, the chairman now owns 26,378 shares of the company’s stock, valued at $146,397.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph M. Field acquired 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was bought at an average cost of $6.17 per share, for a total transaction of $2,468,000.00. Following the completion of the purchase, the chairman now directly owns 26,378 shares in the company, valued at approximately $162,752.26. The disclosure for this purchase can be found here. Insiders 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 owned by company insiders.

Several hedge funds have recently modified their holdings of ETM. Acadian Asset Management LLC bought a new position in shares of Entercom Communications in the 4th quarter valued at approximately $29,000. Cutler Group LP grew its holdings in Entercom Communications by 51.6% in the 4th quarter. Cutler Group LP now owns 13,127 shares of the company’s stock valued at $74,000 after buying an additional 4,468 shares during the last quarter. WealthTrust Axiom LLC acquired a new stake in Entercom Communications in the 4th quarter valued at approximately $92,000. Comerica Bank acquired a new stake in Entercom Communications in the 1st quarter valued at approximately $93,000. Finally, Quantamental Technologies LLC acquired a new stake in Entercom Communications in the 4th quarter valued at approximately $95,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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Entercom Communications Company Profile (NYSE:ETM)

Entercom Communications Corp., a media and entertainment company, engages in radio broadcasting business in the United States. 3 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 11, 2019, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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