Bank of America Corp DE boosted its holdings in Entercom Communications Corp. (NYSE:ETM) by 46.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 91,522 shares of the company’s stock after buying an additional 28,943 shares during the period. Bank of America Corp DE’s holdings in Entercom Communications were worth $522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Acadian Asset Management LLC bought a new position in Entercom Communications during the 4th quarter worth approximately $29,000. Cutler Group LP raised its holdings 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 last quarter. WealthTrust Axiom LLC bought a new position in Entercom Communications during the 4th quarter worth approximately $92,000. Quantamental Technologies LLC bought a new position in Entercom Communications during the 4th quarter worth approximately $95,000. Finally, Great West Life Assurance Co. Can raised its holdings in Entercom Communications by 8.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 24,481 shares of the company’s stock worth $133,000 after purchasing an additional 1,821 shares during the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.

ETM has been the subject of several analyst reports. raised their price target on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. raised their price target on shares of Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. B. Riley initiated coverage on shares of Entercom Communications in a report on Thursday, April 18th. They set a “buy” rating and a $7.75 price target for the company. TheStreet lowered shares of Entercom Communications from a “c” rating to a “d+” rating in a report on Friday, March 29th. Finally, ValuEngine lowered shares of Entercom Communications from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $5.95.

In related news, Chairman Joseph M. Field acquired 30,000 shares of Entercom Communications stock in a transaction dated Monday, March 25th. The stock was bought at an average price of $5.25 per share, with a total value of $157,500.00. Following the transaction, the chairman now directly owns 26,378 shares in the company, valued at approximately $138,484.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field acquired 100,000 shares of Entercom Communications stock in a transaction dated Thursday, February 28th. The shares were bought at an average cost of $6.22 per share, with a total value of $622,000.00. Following the transaction, the chairman now owns 26,378 shares in the company, valued at $164,071.16. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 830,000 shares of company stock valued at $4,980,500. Insiders own 14.04% of the company’s stock.

Shares of ETM stock opened at $6.24 on Tuesday. The company has a market cap of $901.28 million, a PE ratio of 7.43 and a beta of 1.21. 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 current ratio of 1.85 and a quick ratio of 1.85.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $309.01 million during the quarter, compared to the consensus estimate of $309.30 million. Entercom Communications had a negative net margin of 23.42% and a positive return on equity of 5.89%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Entercom Communications Corp. will post 0.98 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Entercom Communications (NYSE:ETM)

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