Insider Selling: Joseph Field Sells 2,837 Shares of Entercom Communications Corp. Stock (ETM)
Entercom Communications Corp. (NYSE:ETM) major shareholder Joseph Field sold 2,837 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $9.01, for a total value of $25,561.37. Following the sale, the insider now directly owns 1,521,022 shares in the company, valued at approximately $13,704,408. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on ETM shares. Analysts at Zacks upgraded shares of Entercom Communications Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $8.70 price target on the stock.
Shares of Entercom Communications Corp. (NYSE:ETM) traded down 1.77% on Tuesday, hitting $8.88. 30,596 shares of the company’s stock traded hands. Entercom Communications Corp. has a 52-week low of $5.98 and a 52-week high of $11.00. The stock has a 50-day moving average of $8.53 and a 200-day moving average of $8.98. The company has a market cap of $332.0 million and a P/E ratio of 13.78.
Entercom Communications Corp. (NYSE:ETM) last released its earnings data on Monday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.02. The company had revenue of $101.24 million for the quarter, compared to the consensus estimate of $104.52 million. During the same quarter last year, the company posted $0.24 earnings per share. Entercom Communications Corp.’s revenue was down 3.2% compared to the same quarter last year. Analysts expect that Entercom Communications Corp. will post $0.69 EPS for the current fiscal year.
Entercom Communications Corp. is a radio broadcasting companies in the United States. The Company’s operates with a nationwide portfolio of 23 markets: San Francisco, Boston, Seattle, Denver, Portland, Sacramento, Kansas City, Indianapolis, Milwaukee, Austin, Norfolk, Buffalo, New Orleans, Memphis, Providence, Greensboro, Greenville/Spartanburg, Rochester, Madison, Wichita, Wilkes-Barre/Scranton, Springfield (NYSE:ETM) and Gainesville/Ocala.
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