Goldman Sachs Group Inc. decreased its position in shares of Entercom Communications Corporation (NYSE:ETM) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,193 shares of the company’s stock after selling 13,092 shares during the period. Goldman Sachs Group Inc. owned 0.59% of Entercom Communications Corporation worth $3,421,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Entercom Communications Corporation by 13.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,856,433 shares of the company’s stock valued at $26,546,000 after buying an additional 218,213 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Entercom Communications Corporation by 11.9% in the first quarter. Vanguard Group Inc. now owns 1,023,475 shares of the company’s stock valued at $14,636,000 after buying an additional 108,488 shares during the last quarter. State Street Corp raised its position in shares of Entercom Communications Corporation by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock valued at $6,674,000 after buying an additional 31,840 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Entercom Communications Corporation by 84.9% in the first quarter. Renaissance Technologies LLC now owns 390,300 shares of the company’s stock valued at $5,581,000 after buying an additional 179,167 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Entercom Communications Corporation by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 319,511 shares of the company’s stock valued at $4,569,000 after buying an additional 13,838 shares during the last quarter. 49.50% of the stock is currently owned by hedge funds and other institutional investors.

Entercom Communications Corporation (NYSE:ETM) traded up 0.746% during mid-day trading on Thursday, hitting $10.125. The stock had a trading volume of 275,654 shares. The firm has a market cap of $412.68 million, a P/E ratio of 22.702 and a beta of 1.17. Entercom Communications Corporation has a 1-year low of $9.45 and a 1-year high of $16.55. The stock has a 50 day moving average of $9.93 and a 200-day moving average of $12.06.

Entercom Communications Corporation (NYSE:ETM) last released its earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The firm had revenue of $125 million during the quarter, compared to the consensus estimate of $121.42 million. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Entercom Communications Corporation will post $0.91 EPS for the current fiscal year.

The firm also recently disclosed a dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 15th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio (DPR) is presently 66.67%.

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ETM has been the subject of several research reports. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Thursday, May 11th. TheStreet lowered Entercom Communications Corporation from a “b” rating to a “c” rating in a research report on Monday, May 8th. ValuEngine lowered Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.00.

In related news, Chairman Joseph M. Field acquired 151,545 shares of the stock in a transaction dated Monday, May 22nd. The shares were purchased at an average price of $9.84 per share, for a total transaction of $1,491,202.80. Following the transaction, the chairman now owns 1,006,844 shares in the company, valued at approximately $9,907,344.96. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Joseph M. Field acquired 219,073 shares of the stock in a transaction dated Thursday, May 25th. The shares were bought at an average price of $10.07 per share, for a total transaction of $2,206,065.11. Following the transaction, the chairman now owns 1,006,844 shares in the company, valued at approximately $10,138,919.08. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 378,639 shares of company stock valued at $3,777,077. 32.57% of the stock is owned by insiders.

About Entercom Communications Corporation

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.

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

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