WealthTrust Axiom LLC raised its stake in Entercom Communications Corp. (NYSE:ETM) by 27.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,158 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. WealthTrust Axiom LLC’s holdings in Entercom Communications were worth $77,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ETM. Goldentree Asset Management LP bought a new position in shares of Entercom Communications in the 2nd quarter worth $11,974,000. Marathon Asset Management LLP increased its holdings in shares of Entercom Communications by 42.2% in the 3rd quarter. Marathon Asset Management LLP now owns 5,214,918 shares of the company’s stock worth $17,418,000 after buying an additional 1,548,588 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Entercom Communications by 148.2% in the 2nd quarter. Prudential Financial Inc. now owns 1,927,692 shares of the company’s stock worth $11,180,000 after buying an additional 1,151,129 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Entercom Communications in the 2nd quarter worth $5,093,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Entercom Communications by 6.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,286,725 shares of the company’s stock worth $71,017,000 after buying an additional 712,338 shares during the last quarter. 77.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Entercom Communications news, insider Richard J. Schmaeling acquired 55,676 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $3.61 per share, with a total value of $200,990.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought a total of 69,726 shares of company stock valued at $248,613 in the last ninety days. 14.04% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on ETM. Wells Fargo & Co began coverage on shares of Entercom Communications in a report on Monday, September 23rd. They issued a “market perform” rating and a $4.00 price target on the stock. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Saturday, November 2nd. ValuEngine raised shares of Entercom Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, B. Riley set a $6.00 price target on shares of Entercom Communications and gave the stock a “buy” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $3.34.
Shares of Entercom Communications stock traded up $0.63 during trading on Friday, reaching $4.32. The company’s stock had a trading volume of 3,629,845 shares, compared to its average volume of 1,325,298. Entercom Communications Corp. has a 52-week low of $2.94 and a 52-week high of $7.94. The company has a market cap of $531.53 million, a price-to-earnings ratio of 5.14 and a beta of 1.27. The firm’s 50-day moving average is $3.41 and its two-hundred day moving average is $4.87. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.46.
Entercom Communications (NYSE:ETM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.09). Entercom Communications had a negative net margin of 21.69% and a positive return on equity of 7.96%. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $386.57 million. During the same period last year, the company posted $0.01 EPS. Entercom Communications’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Entercom Communications Corp. will post 0.82 EPS for the current year.
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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