TIAA CREF Investment Management LLC lowered its stake in shares of Entercom Communications Corporation (NYSE:ETM) by 20.5% during the first quarter, Holdings Channel reports. The firm owned 108,274 shares of the company’s stock after selling 27,969 shares during the period. TIAA CREF Investment Management LLC’s holdings in Entercom Communications Corporation were worth $1,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Entercom Communications Corporation by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock valued at $6,674,000 after buying an additional 31,840 shares during the period. Bank of New York Mellon Corp increased its position in Entercom Communications Corporation by 4.5% in the first quarter. Bank of New York Mellon Corp now owns 319,511 shares of the company’s stock valued at $4,569,000 after buying an additional 13,838 shares during the period. Bank of Montreal Can increased its position in Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock valued at $3,515,000 after buying an additional 245,000 shares during the period. American Century Companies Inc. increased its position in Entercom Communications Corporation by 34.0% in the first quarter. American Century Companies Inc. now owns 225,977 shares of the company’s stock valued at $3,231,000 after buying an additional 57,316 shares during the period. Finally, Prudential Financial Inc. increased its position in Entercom Communications Corporation by 4.1% in the first quarter. Prudential Financial Inc. now owns 126,528 shares of the company’s stock valued at $1,809,000 after buying an additional 5,000 shares during the period. 49.55% of the stock is owned by institutional investors and hedge funds.

Shares of Entercom Communications Corporation (ETM) traded up 3.29% on Friday, hitting $10.20. 683,693 shares of the company were exchanged. The firm’s 50-day moving average is $9.96 and its 200-day moving average is $12.17. Entercom Communications Corporation has a 52-week low of $9.45 and a 52-week high of $16.55. The stock has a market capitalization of $415.74 million, a PE ratio of 22.87 and a beta of 1.17.

Entercom Communications Corporation (NYSE:ETM) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.07. The firm had revenue of $125 million for the quarter, compared to analyst estimates of $121.42 million. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. Entercom Communications Corporation’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. Equities research analysts predict that Entercom Communications Corporation will post $0.91 earnings per share for the current year.

The firm also recently declared a dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, August 11th. Entercom Communications Corporation’s payout ratio is presently 66.67%.

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ETM has been the subject of a number of analyst reports. TheStreet downgraded shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. Zacks Investment Research raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. ValuEngine downgraded shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday. Finally, Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.00.

In other Entercom Communications Corporation news, Chairman Joseph M. Field purchased 4,793 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average cost of $9.95 per share, for a total transaction of $47,690.35. Following the completion of the transaction, the chairman now owns 1,006,844 shares of the company’s stock, valued at approximately $10,018,097.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Joseph M. Field purchased 135,832 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the completion of the transaction, the chairman now directly owns 1,006,844 shares of the company’s stock, valued at approximately $9,796,592.12. The disclosure for this purchase can be found here. Insiders have purchased 583,087 shares of company stock worth $5,775,962 over the last 90 days. 32.57% of the stock is currently owned by company insiders.

About Entercom Communications Corporation

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

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