Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field Acquires 100,000 Shares
Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field bought 100,000 shares of Entercom Communications stock in a transaction dated Friday, June 7th. The stock was purchased at an average cost of $5.81 per share, with a total value of $581,000.00. Following the completion of the acquisition, the chairman now directly owns 30,125 shares in the company, valued at approximately $175,026.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of ETM stock opened at $5.93 on Thursday. The stock has a market capitalization of $845.66 million, a P/E ratio of 7.06 and a beta of 1.30. Entercom Communications Corp. has a 52-week low of $5.16 and a 52-week high of $8.60. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.85 and a current ratio of 1.85.
Entercom Communications (NYSE:ETM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $309.01 million for the quarter, compared to analysts’ expectations of $309.30 million. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Entercom Communications Corp. will post 0.98 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in Entercom Communications during the 4th quarter worth approximately $29,000. Man Group plc acquired a new position in Entercom Communications during the 1st quarter worth approximately $55,000. Cutler Group LP increased its position in Entercom Communications by 51.6% during the 4th quarter. Cutler Group LP now owns 13,127 shares of the company’s stock worth $74,000 after purchasing an additional 4,468 shares during the period. Comerica Bank acquired a new position in Entercom Communications during the 1st quarter worth approximately $93,000. Finally, Covington Capital Management acquired a new position in Entercom Communications during the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Several analysts have recently weighed in on the company. B. Riley assumed coverage on Entercom Communications in a report on Thursday, April 18th. They issued a “buy” rating and a $7.75 target price for the company. ValuEngine cut Entercom Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. boosted their price target on Entercom Communications to $1.34 and gave the company a “buy” rating in a research report on Wednesday, February 13th. boosted their price target on Entercom Communications to $1.34 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Finally, TheStreet cut Entercom Communications from a “c” rating to a “d+” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $5.54.
About Entercom Communications
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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