Fairpointe Capital LLC Takes Position in Entercom Communications Corp. (ETM)

Fairpointe Capital LLC bought a new position in shares of Entercom Communications Corp. (NYSE:ETM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 80,895 shares of the company’s stock, valued at approximately $874,000. Fairpointe Capital LLC owned about 0.20% of Entercom Communications as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank purchased a new position in shares of Entercom Communications during the 4th quarter valued at $185,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Entercom Communications in the third quarter worth $186,000. Voya Investment Management LLC grew its position in Entercom Communications by 14.0% in the second quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock worth $201,000 after acquiring an additional 2,383 shares in the last quarter. AXA grew its position in Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock worth $214,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Ellington Management Group LLC purchased a new position in Entercom Communications in the fourth quarter worth $222,000.

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ETM has been the subject of several research reports. ValuEngine lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded shares of Entercom Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Noble Financial reiterated a “buy” rating on shares of Entercom Communications in a research report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.00.

Entercom Communications Corp. (NYSE:ETM) opened at $9.90 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.21 and a quick ratio of 2.21. Entercom Communications Corp. has a 1 year low of $9.40 and a 1 year high of $14.52. The stock has a market cap of $1,349.40, a price-to-earnings ratio of 3.84 and a beta of 1.06.

Entercom Communications (NYSE:ETM) last posted its quarterly earnings results on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.12). Entercom Communications had a net margin of 39.55% and a return on equity of 0.15%. The business had revenue of $246.61 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 98.0% on a year-over-year basis. analysts predict that Entercom Communications Corp. will post 1.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, March 13th. Entercom Communications’s dividend payout ratio (DPR) is 13.95%.

In other news, Chairman Joseph M. Field acquired 100,000 shares of the stock in a transaction dated Friday, March 9th. The stock was purchased at an average cost of $9.99 per share, with a total value of $999,000.00. Following the completion of the purchase, the chairman now owns 3,971,897 shares in the company, valued at approximately $39,679,251.03. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph M. Field acquired 200,000 shares of the stock in a transaction dated Monday, March 12th. The shares were purchased at an average cost of $9.95 per share, with a total value of $1,990,000.00. Following the completion of the purchase, the chairman now owns 3,971,897 shares of the company’s stock, valued at approximately $39,520,375.15. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 600,000 shares of company stock valued at $5,983,000. Insiders own 32.57% of the company’s stock.

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

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