Entercom Communications Corp. (ETM) Insider Andrew P. Iv Sutor Sells 7,500 Shares
Entercom Communications Corp. (NYSE:ETM) insider Andrew P. Iv Sutor sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $14.26, for a total transaction of $106,950.00. Following the sale, the insider now directly owns 64,177 shares of the company’s stock, valued at approximately $915,164.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Entercom Communications Corp. (NYSE:ETM) traded up 0.65% during mid-day trading on Thursday, reaching $15.40. 89,822 shares of the company traded hands. The stock has a market capitalization of $625.39 million, a price-to-earnings ratio of 15.57 and a beta of 1.43. The company’s 50-day moving average is $13.41 and its 200-day moving average is $13.34. Entercom Communications Corp. has a 12-month low of $8.88 and a 12-month high of $15.75.
Entercom Communications Corp. (NYSE:ETM) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Entercom Communications Corp. had a return on equity of 9.34% and a net margin of 8.96%. The firm earned $120.50 million during the quarter, compared to the consensus estimate of $120.45 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Equities analysts predict that Entercom Communications Corp. will post $0.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 28th will be given a $0.075 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.30 annualized dividend and a yield of 1.96%. Entercom Communications Corp.’s payout ratio is currently 30.61%.
A number of hedge funds have recently made changes to their positions in ETM. JPMorgan Chase & Co. boosted its stake in Entercom Communications Corp. by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 4,278,892 shares of the company’s stock worth $58,065,000 after buying an additional 228,451 shares in the last quarter. Venator Capital Management Ltd. boosted its stake in Entercom Communications Corp. by 11.6% in the third quarter. Venator Capital Management Ltd. now owns 2,238,560 shares of the company’s stock worth $28,967,000 after buying an additional 232,486 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Entercom Communications Corp. by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,491,204 shares of the company’s stock worth $20,235,000 after buying an additional 75,610 shares in the last quarter. Northern Trust Corp boosted its stake in Entercom Communications Corp. by 1.8% in the third quarter. Northern Trust Corp now owns 1,065,573 shares of the company’s stock worth $13,789,000 after buying an additional 18,936 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Entercom Communications Corp. by 0.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 882,153 shares of the company’s stock worth $11,415,000 after buying an additional 5,115 shares in the last quarter. Hedge funds and other institutional investors own 45.20% of the company’s stock.
Separately, Zacks Investment Research raised shares of Entercom Communications Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th.
Entercom Communications Corp. Company Profile
Entercom Communications Corp. is a radio broadcasting company. The Company has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Company operates through the radio broadcasting segment. The Company sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths.
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