Dimensional Fund Advisors LP Grows Stake in Entercom Communications Corp. (ETM)
Dimensional Fund Advisors LP lifted its position in shares of Entercom Communications Corp. (NYSE:ETM) by 32.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,399,646 shares of the company’s stock after purchasing an additional 1,066,215 shares during the period. Dimensional Fund Advisors LP’s holdings in Entercom Communications were worth $25,122,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Entercom Communications during the fourth quarter worth about $29,000. Cutler Group LP grew its holdings in shares of Entercom Communications by 51.6% during the fourth 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 stake in shares of Entercom Communications during the fourth quarter worth about $92,000. Quantamental Technologies LLC bought a new stake in shares of Entercom Communications during the fourth quarter worth about $95,000. Finally, Covington Capital Management bought a new stake in shares of Entercom Communications during the fourth quarter worth about $101,000. Institutional investors own 80.17% of the company’s stock.
In other Entercom Communications news, Chairman Joseph M. Field purchased 400,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $6.17 per share, with a total value of $2,468,000.00. Following the completion of the purchase, the chairman now owns 26,378 shares in the company, valued at $162,752.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Joseph M. Field purchased 30,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $5.25 per share, for a total transaction of $157,500.00. Following the completion of the purchase, the chairman now owns 26,378 shares of the company’s stock, valued at approximately $138,484.50. The disclosure for this purchase can be found here. Insiders purchased 660,000 shares of company stock worth $3,911,000 over the last quarter. 14.04% of the stock is currently owned by company insiders.
Entercom Communications (NYSE:ETM) last announced its earnings results on Tuesday, April 30th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. The business had revenue of $309.01 million for the quarter, compared to analysts’ expectations of $309.30 million. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Entercom Communications Corp. will post 0.98 EPS for the current fiscal year.
Several analysts have recently weighed in on the company. ValuEngine cut Entercom Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 1st. B. Riley started coverage on Entercom Communications in a report on Thursday, April 18th. They issued a “buy” rating and a $7.75 target price on the stock. TheStreet cut Entercom Communications from a “c” rating to a “d+” rating in a report on Friday, March 29th. upped their target price on Entercom Communications to $1.34 and gave the company a “buy” rating in a report on Wednesday, February 13th. Finally, upped their target price on Entercom Communications to $1.34 and gave the company a “buy” rating in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Entercom Communications currently has an average rating of “Buy” and a consensus price target of $5.95.
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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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