LSV Asset Management Acquires 4,281,498 Shares of Entercom Communications Corp. (ETM)

LSV Asset Management increased its holdings in shares of Entercom Communications Corp. (NYSE:ETM) by 142.2% during the first quarter, HoldingsChannel reports. The firm owned 7,292,900 shares of the company’s stock after buying an additional 4,281,498 shares during the period. LSV Asset Management owned approximately 0.05% of Entercom Communications worth $38,287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETM. Raymond James & Associates boosted its position in Entercom Communications by 2.1% during the first quarter. Raymond James & Associates now owns 677,760 shares of the company’s stock worth $3,558,000 after acquiring an additional 13,631 shares during the last quarter. Moors & Cabot Inc. raised its stake in Entercom Communications by 61.4% during the first quarter. Moors & Cabot Inc. now owns 195,355 shares of the company’s stock worth $1,032,000 after purchasing an additional 74,313 shares during the period. Boston Partners raised its stake in Entercom Communications by 2.4% during the first quarter. Boston Partners now owns 2,412,268 shares of the company’s stock worth $12,665,000 after purchasing an additional 56,425 shares during the period. Gamco Investors INC. ET AL raised its stake in Entercom Communications by 21.6% during the first quarter. Gamco Investors INC. ET AL now owns 717,477 shares of the company’s stock worth $3,767,000 after purchasing an additional 127,210 shares during the period. Finally, Gabelli Funds LLC raised its stake in Entercom Communications by 7.5% during the first quarter. Gabelli Funds LLC now owns 1,430,000 shares of the company’s stock worth $7,508,000 after purchasing an additional 100,000 shares during the period. Hedge funds and other institutional investors own 87.57% of the company’s stock.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Entercom Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. lifted their target price on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. TheStreet downgraded shares of Entercom Communications from a “c” rating to a “d+” rating in a research note on Friday, March 29th. lifted their target price on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Finally, B. Riley assumed coverage on shares of Entercom Communications in a research note on Thursday, April 18th. They set a “buy” rating and a $7.75 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $5.95.



In related news, Chairman Joseph M. Field purchased 100,000 shares of Entercom Communications stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $6.23 per share, with a total value of $623,000.00. Following the purchase, the chairman now owns 26,378 shares of the company’s stock, valued at $164,334.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Joseph M. Field purchased 30,000 shares of Entercom Communications stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $157,500.00. Following the completion of the purchase, the chairman now directly owns 26,378 shares in the company, valued at approximately $138,484.50. The disclosure for this purchase can be found here. Insiders have acquired 830,000 shares of company stock worth $4,980,500 over the last ninety days. 14.04% of the stock is owned by insiders.

Shares of ETM stock opened at $6.36 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.48. Entercom Communications Corp. has a 12 month low of $5.16 and a 12 month high of $8.60. The stock has a market cap of $911.27 million, a price-to-earnings ratio of 7.57 and a beta of 1.21.

Entercom Communications (NYSE:ETM) last issued its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Entercom Communications had a negative net margin of 23.42% and a positive return on equity of 5.89%. The company had revenue of $309.01 million for the quarter, compared to the consensus estimate of $309.30 million. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Entercom Communications Corp. will post 0.98 EPS for the current fiscal year.

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Entercom Communications Company Profile

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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Institutional Ownership by Quarter for Entercom Communications (NYSE:ETM)

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