Insider Buying: Entercom Communications Corp. (NYSE:ETM) Chairman Acquires $36,000.00 in Stock

Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field bought 20,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average cost of $1.80 per share, for a total transaction of $36,000.00. Following the completion of the purchase, the chairman now directly owns 22,211 shares in the company, valued at $39,979.80. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NYSE ETM opened at $1.87 on Thursday. The company has a 50 day simple moving average of $3.38 and a 200-day simple moving average of $3.97. The company has a market capitalization of $204.11 million, a P/E ratio of -0.59 and a beta of 1.47. The company has a debt-to-equity ratio of 2.21, a current ratio of 2.02 and a quick ratio of 2.02. Entercom Communications Corp. has a 1 year low of $1.34 and a 1 year high of $7.12.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.09. The business had revenue of $414.12 million during the quarter, compared to the consensus estimate of $409.76 million. Entercom Communications had a negative net margin of 28.20% and a positive return on equity of 9.90%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. As a group, research analysts expect that Entercom Communications Corp. will post 0.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.28%. Entercom Communications’s dividend payout ratio is currently 8.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in shares of Entercom Communications by 26.1% during the 4th quarter. Nuveen Asset Management LLC now owns 1,083,443 shares of the company’s stock worth $5,027,000 after buying an additional 224,029 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Entercom Communications by 34.1% during the 4th quarter. Alberta Investment Management Corp now owns 174,700 shares of the company’s stock worth $811,000 after buying an additional 44,400 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Entercom Communications during the 4th quarter worth approximately $52,000. Bank of America Corp DE increased its holdings in shares of Entercom Communications by 28.1% during the 4th quarter. Bank of America Corp DE now owns 142,115 shares of the company’s stock worth $659,000 after buying an additional 31,166 shares during the last quarter. Finally, Ellington Management Group LLC acquired a new stake in shares of Entercom Communications during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 68.97% of the company’s stock.

A number of research analysts have weighed in on ETM shares. ValuEngine lowered shares of Entercom Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Zacks Investment Research lowered shares of Entercom Communications from a “hold” rating to a “sell” rating in a research note on Monday. Finally, B. Riley decreased their target price on shares of Entercom Communications from $5.75 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.17.

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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Insider Buying and Selling by Quarter for Entercom Communications (NYSE:ETM)

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