Investors Purchase Large Volume of Call Options on Entercom Communications (ETM)
Entercom Communications Corp. (NYSE:ETM) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 1,674 call options on the stock. This represents an increase of 1,295% compared to the average volume of 120 call options.
Entercom Communications stock opened at $6.12 on Wednesday. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $879.04 million, a PE ratio of 7.29 and a beta of 1.07. Entercom Communications has a 1-year low of $5.16 and a 1-year high of $10.95.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Friday, February 22nd. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.04). The business had revenue of $411.38 million during the quarter, compared to analyst estimates of $410.00 million. Entercom Communications had a positive return on equity of 4.40% and a negative net margin of 24.71%. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS.
In other news, Chairman Joseph M. Field acquired 400,000 shares of Entercom Communications stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $6.17 per share, for a total transaction of $2,468,000.00. Following the acquisition, the chairman now directly owns 26,378 shares of the company’s stock, valued at approximately $162,752.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Joseph M. Field acquired 30,000 shares of Entercom Communications stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $5.25 per share, for a total transaction of $157,500.00. Following the completion of the acquisition, the chairman now directly owns 26,378 shares in the company, valued at $138,484.50. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 830,000 shares of company stock worth $4,980,500. Company insiders own 10.19% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of Entercom Communications in the 4th quarter worth $95,000. Vanguard Group Inc boosted its position in shares of Entercom Communications by 13.7% in the 3rd quarter. Vanguard Group Inc now owns 10,797,194 shares of the company’s stock worth $85,298,000 after purchasing an additional 1,302,280 shares in the last quarter. Mcclain Value Management LLC acquired a new stake in shares of Entercom Communications in the 4th quarter worth $2,609,000. Citigroup Inc. boosted its position in shares of Entercom Communications by 834.0% in the 4th quarter. Citigroup Inc. now owns 144,168 shares of the company’s stock worth $823,000 after purchasing an additional 128,733 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Entercom Communications by 58.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,300,100 shares of the company’s stock worth $18,171,000 after purchasing an additional 852,200 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.
ETM has been the topic of several research reports. ValuEngine downgraded Entercom Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. raised their price objective on Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. raised their price objective on Entercom Communications to $1.34 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, TheStreet downgraded Entercom Communications from a “c” rating to a “d+” rating in a report on Friday, March 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Entercom Communications currently has a consensus rating of “Buy” and a consensus price target of $5.59.
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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