Insider Selling: Entercom Communications Corp. (ETM) Insider Sells 1,750 Shares of Stock
Entercom Communications Corp. (NYSE:ETM) insider Eugene D. Levin sold 1,750 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $12.21, for a total transaction of $21,367.50. Following the sale, the insider now owns 80,646 shares in the company, valued at $984,687.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Entercom Communications Corp. (NYSE ETM) traded down $0.50 during mid-day trading on Thursday, reaching $11.60. 6,317,332 shares of the company’s stock traded hands, compared to its average volume of 1,180,990. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.23. Entercom Communications Corp. has a 12-month low of $9.45 and a 12-month high of $16.55. The firm has a market cap of $1,600.00, a price-to-earnings ratio of 15.06, a P/E/G ratio of 13.26 and a beta of 1.09.
Entercom Communications (NYSE:ETM) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Entercom Communications had a net margin of 2.69% and a return on equity of 8.67%. The firm had revenue of $122.30 million for the quarter, compared to analyst estimates of $120.76 million. During the same period in the previous year, the business earned $0.27 EPS. The company’s revenue was up .6% compared to the same quarter last year. equities analysts expect that Entercom Communications Corp. will post 0.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.36 annualized dividend and a yield of 3.10%. Entercom Communications’s payout ratio is currently 144.00%.
A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Entercom Communications by 7.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,399,135 shares of the company’s stock valued at $45,531,000 after buying an additional 287,581 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Entercom Communications by 13.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,856,433 shares of the company’s stock valued at $26,546,000 after buying an additional 218,213 shares during the last quarter. Northern Trust Corp increased its stake in Entercom Communications by 35.5% in the 2nd quarter. Northern Trust Corp now owns 1,465,228 shares of the company’s stock valued at $15,165,000 after buying an additional 383,788 shares during the last quarter. Gruss Capital Management LP increased its stake in Entercom Communications by 661.7% in the 3rd quarter. Gruss Capital Management LP now owns 1,409,235 shares of the company’s stock valued at $16,136,000 after buying an additional 1,224,235 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Entercom Communications by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,070,924 shares of the company’s stock valued at $11,083,000 after buying an additional 47,449 shares during the last quarter. Hedge funds and other institutional investors own 65.87% of the company’s stock.
A number of equities research analysts recently commented on ETM shares. BidaskClub upgraded shares of Entercom Communications 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 in a research note on Monday.
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Entercom Communications 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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