Marshall Wace North America L.P. purchased a new position in Entercom Communications Corporation (NYSE:ETM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 228,110 shares of the company’s stock, valued at approximately $2,281,000. Marshall Wace North America L.P. owned about 0.56% of Entercom Communications Corporation at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Entercom Communications Corporation by 9.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 33,088 shares of the company’s stock worth $342,000 after buying an additional 2,883 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of Entercom Communications Corporation in the 2nd quarter worth $414,000. Rhumbline Advisers boosted its stake in shares of Entercom Communications Corporation by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 34,558 shares of the company’s stock worth $358,000 after buying an additional 1,047 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Entercom Communications Corporation by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,658 shares of the company’s stock worth $1,135,000 after buying an additional 627 shares during the last quarter. Finally, Weber Alan W purchased a new position in Entercom Communications Corporation during the second quarter valued at $3,337,000. Hedge funds and other institutional investors own 55.56% of the company’s stock.

Entercom Communications Corporation (NYSE:ETM) opened at 10.15 on Monday. Entercom Communications Corporation has a 52-week low of $9.45 and a 52-week high of $16.55. The company’s 50-day moving average price is $9.94 and its 200 day moving average price is $11.66. The stock has a market capitalization of $413.70 million, a P/E ratio of 22.76 and a beta of 1.13.

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

The business also recently declared a dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.275 per share. The ex-dividend date was Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio is currently 66.67%.

In related news, Chairman Joseph M. Field purchased 4,793 shares of the business’s stock in a transaction on Friday, June 16th. The shares were bought at an average cost of $9.95 per share, with a total value of $47,690.35. Following the transaction, the chairman now owns 1,006,844 shares of the company’s stock, valued at $10,018,097.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 8,021 shares of company stock worth $79,809 over the last ninety days. 32.57% of the stock is owned by insiders.

ETM has been the topic of several analyst reports. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a research report on Monday, July 31st. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. ValuEngine downgraded Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet downgraded Entercom Communications Corporation from a “b” rating to a “c” rating in a research report on Monday, May 8th. Finally, BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Entercom Communications Corporation presently has a consensus rating of “Hold” and a consensus price target of $18.00.

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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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