Weber Alan W acquired a new stake in shares of Entercom Communications Corporation (NYSE:ETM) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 322,406 shares of the company’s stock, valued at approximately $3,337,000. Entercom Communications Corporation makes up about 1.8% of Weber Alan W’s investment portfolio, making the stock its 15th largest position.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can raised 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 in the last quarter. Dimensional Fund Advisors LP raised its position in Entercom Communications Corporation by 13.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,856,433 shares of the company’s stock valued at $26,546,000 after buying an additional 218,213 shares in the last quarter. Renaissance Technologies LLC raised its position in Entercom Communications Corporation by 566.0% in the fourth quarter. Renaissance Technologies LLC now owns 211,133 shares of the company’s stock valued at $3,230,000 after buying an additional 179,433 shares in the last quarter. Vanguard Group Inc. raised its position in Entercom Communications Corporation by 11.9% in the first quarter. Vanguard Group Inc. now owns 1,023,475 shares of the company’s stock valued at $14,636,000 after buying an additional 108,488 shares in the last quarter. Finally, Consolidated Investment Group LLC acquired a new position in Entercom Communications Corporation during the first quarter valued at approximately $826,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Entercom Communications Corporation (ETM) opened at 9.95 on Thursday. Entercom Communications Corporation has a 12-month low of $9.45 and a 12-month high of $16.55. The company has a market cap of $405.08 million, a price-to-earnings ratio of 22.31 and a beta of 1.17. The company’s 50 day moving average is $9.95 and its 200 day moving average is $12.21.

Entercom Communications Corporation (NYSE:ETM) last released its quarterly earnings results on Friday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.07. The company had revenue of $125 million for the quarter, compared to the consensus estimate 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 revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Analysts forecast that Entercom Communications Corporation will post $0.91 earnings per share for the current fiscal 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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 11th. Entercom Communications Corporation’s payout ratio is 66.67%.

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ETM has been the topic of several recent research reports. Zacks Investment Research lowered shares of Entercom Communications Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. TheStreet lowered shares of Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. ValuEngine lowered shares of Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th.

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