Entercom Communications Corporation (ETM) Stake Held by Alpine Global Management LLC
Alpine Global Management LLC continued to hold its position in shares of Entercom Communications Corporation (NYSE:ETM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,000 shares of the company’s stock at the end of the second quarter. Alpine Global Management LLC owned about 0.18% of Entercom Communications Corporation worth $776,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Minerva Advisors LLC bought a new position in Entercom Communications Corporation in the second quarter valued at about $381,000. JPMorgan Chase & Co. boosted its holdings in Entercom Communications Corporation by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 4,399,135 shares of the company’s stock valued at $45,531,000 after acquiring an additional 287,581 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 108,488 shares during the last quarter. Mork Capital Management LLC bought a new position in Entercom Communications Corporation in the second quarter valued at about $1,035,000. Finally, American International Group Inc. boosted its holdings in Entercom Communications Corporation by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock valued at $229,000 after acquiring an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 55.50% of the company’s stock.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a report on Monday, July 31st.
Entercom Communications Corporation (ETM) traded up 0.203% during trading on Monday, reaching $12.325. The company had a trading volume of 70,004 shares. The firm has a market capitalization of $502.35 million, a PE ratio of 27.635 and a beta of 1.12. The firm’s 50 day moving average price is $10.81 and its 200 day moving average price is $10.99. Entercom Communications Corporation has a 12-month low of $9.45 and a 12-month high of $16.55.
Entercom Communications Corporation (NYSE:ETM) last issued its earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. Entercom Communications Corporation had a return on equity of 8.50% and a net margin of 4.27%. The business had revenue of $125.00 million during the quarter, compared to analysts’ expectations of $121.42 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts anticipate that Entercom Communications Corporation will post $0.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.10 dividend on an annualized basis and a yield of 8.94%. Entercom Communications Corporation’s payout ratio is presently 66.67%.
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Entercom Communications Corporation Company Profile
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.
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