Vanguard Group Inc. Has $66.19 Million Stock Holdings in Entercom Communications Corp. (NYSE:ETM)

Vanguard Group Inc. grew its holdings in Entercom Communications Corp. (NYSE:ETM) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,412,608 shares of the company’s stock after buying an additional 368,199 shares during the quarter. Vanguard Group Inc. owned approximately 8.00% of Entercom Communications worth $66,193,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Creative Planning acquired a new stake in shares of Entercom Communications in the second quarter valued at $102,000. Evercore Wealth Management LLC boosted its holdings in Entercom Communications by 20.4% in the second quarter. Evercore Wealth Management LLC now owns 29,500 shares of the company’s stock valued at $171,000 after acquiring an additional 5,000 shares during the last quarter. Bank of Montreal Can boosted its holdings in Entercom Communications by 69.6% in the second quarter. Bank of Montreal Can now owns 36,085 shares of the company’s stock valued at $209,000 after acquiring an additional 14,812 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Entercom Communications by 106.1% in the second quarter. Private Advisor Group LLC now owns 42,052 shares of the company’s stock valued at $244,000 after acquiring an additional 21,649 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. bought a new position in Entercom Communications in the second quarter valued at about $247,000. Institutional investors own 76.88% of the company’s stock.

Entercom Communications stock opened at $3.30 on Friday. The business’s 50-day simple moving average is $3.49 and its 200 day simple moving average is $5.20. The stock has a market cap of $447.45 million, a price-to-earnings ratio of 3.93 and a beta of 1.32. Entercom Communications Corp. has a 12-month low of $2.94 and a 12-month high of $8.04. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.46.

Entercom Communications (NYSE:ETM) last issued its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.09). Entercom Communications had a positive return on equity of 7.96% and a negative net margin of 21.69%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $386.57 million. During the same quarter last year, the business posted $0.01 EPS. Entercom Communications’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Entercom Communications Corp. will post 0.81 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Wednesday, August 28th. Entercom Communications’s dividend payout ratio (DPR) is currently 9.52%.

In related news, insider Richard J. Schmaeling bought 55,676 shares of Entercom Communications stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $3.61 per share, for a total transaction of $200,990.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have acquired 69,726 shares of company stock worth $248,613. Company insiders own 14.04% of the company’s stock.

ETM has been the topic of several recent research reports. ValuEngine upgraded Entercom Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. B. Riley set a $6.00 price target on Entercom Communications and gave the company a “buy” rating in a report on Friday, August 16th. Wells Fargo & Co initiated coverage on Entercom Communications in a report on Monday, September 23rd. They issued a “market perform” rating and a $4.00 price target on the stock. Finally, Zacks Investment Research cut Entercom Communications from a “hold” rating to a “sell” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $4.66.

Entercom Communications Profile

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

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