Louise C. Kramer Sells 44,613 Shares of Entercom Communications Corp. (ETM) Stock
Entercom Communications Corp. (NYSE:ETM) COO Louise C. Kramer sold 44,613 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $15.34, for a total value of $684,363.42. Following the transaction, the chief operating officer now directly owns 377,238 shares in the company, valued at $5,786,830.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Entercom Communications Corp. (NYSE:ETM) traded down 0.33% on Monday, reaching $15.20. The company had a trading volume of 170,471 shares. Entercom Communications Corp. has a one year low of $8.88 and a one year high of $15.75. The firm has a market capitalization of $617.27 million, a price-to-earnings ratio of 15.37 and a beta of 1.43. The company’s 50 day moving average is $13.50 and its 200-day moving average is $13.36.
Entercom Communications Corp. (NYSE:ETM) last posted its earnings results on Monday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The company had revenue of $120.50 million for the quarter, compared to analysts’ expectations of $120.45 million. Entercom Communications Corp. had a return on equity of 9.34% and a net margin of 8.96%. Entercom Communications Corp.’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. On average, equities research analysts expect that Entercom Communications Corp. will post $0.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 28th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.97%. Entercom Communications Corp.’s payout ratio is currently 30.61%.
Institutional investors have recently made changes to their positions in the company. Hancock Holding Co. purchased a new position in shares of Entercom Communications Corp. during the third quarter worth $130,000. KCG Holdings Inc. purchased a new position in shares of Entercom Communications Corp. during the second quarter worth $138,000. First Trust Advisors LP raised its position in shares of Entercom Communications Corp. by 8.2% in the third quarter. First Trust Advisors LP now owns 13,800 shares of the company’s stock worth $179,000 after buying an additional 1,044 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of Entercom Communications Corp. by 4.3% in the second quarter. Eqis Capital Management Inc. now owns 14,141 shares of the company’s stock worth $192,000 after buying an additional 580 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Entercom Communications Corp. by 37.4% in the second quarter. Alliancebernstein L.P. now owns 14,700 shares of the company’s stock worth $199,000 after buying an additional 4,000 shares during the last quarter. Institutional investors own 45.05% of the company’s stock.
Separately, Zacks Investment Research raised Entercom Communications Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 29th.
About Entercom Communications Corp.
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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