Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was bought at an average cost of $6.66 per share, for a total transaction of $666,000.00. Following the completion of the purchase, the chairman now directly owns 40,990 shares in the company, valued at $272,993.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Entercom Communications stock opened at $6.38 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.10. Entercom Communications Corp. has a one year low of $5.82 and a one year high of $11.70.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $378.00 million. Entercom Communications had a return on equity of 0.14% and a net margin of 19.89%. Entercom Communications’s revenue for the quarter was up 209.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Analysts anticipate that Entercom Communications Corp. will post 0.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Tuesday, November 27th were paid a $0.09 dividend. The ex-dividend date was Monday, November 26th. This represents a $0.36 dividend on an annualized basis and a yield of 5.64%. Entercom Communications’s dividend payout ratio (DPR) is currently -80.00%.

A number of institutional investors have recently made changes to their positions in ETM. Marathon Asset Management LLP purchased a new position in shares of Entercom Communications during the third quarter valued at approximately $25,792,000. Capital World Investors increased its stake in shares of Entercom Communications by 113.8% during the third quarter. Capital World Investors now owns 5,860,000 shares of the company’s stock valued at $46,294,000 after buying an additional 3,119,199 shares during the period. Vanguard Group Inc. increased its stake in shares of Entercom Communications by 13.7% during the third quarter. Vanguard Group Inc. now owns 10,797,194 shares of the company’s stock valued at $85,298,000 after buying an additional 1,302,280 shares during the period. Vanguard Group Inc increased its stake in shares of Entercom Communications by 13.7% during the third quarter. Vanguard Group Inc now owns 10,797,194 shares of the company’s stock valued at $85,298,000 after buying an additional 1,302,280 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Entercom Communications by 77.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,418,278 shares of the company’s stock valued at $18,258,000 after buying an additional 1,055,928 shares during the period. 86.93% of the stock is currently owned by institutional investors and hedge funds.

ETM has been the topic of a number of analyst reports. Guggenheim initiated coverage on Entercom Communications in a research note on Thursday, November 1st. They issued a “buy” rating and a $8.50 price target on the stock. Zacks Investment Research cut Entercom Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Finally, Wolfe Research initiated coverage on Entercom Communications in a research note on Friday, December 7th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $8.42.

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About Entercom Communications

Entercom Communications Corp. operates as a radio broadcasting company in the United States. 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 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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