Entercom Communications Corp. (ETM) Given Average Recommendation of “Buy” by Analysts

Shares of Entercom Communications Corp. (NYSE:ETM) have been given a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.

Brokerages have set a 1-year consensus target price of $14.00 for the company, according to Zacks. Zacks has also assigned Entercom Communications an industry rank of 166 out of 265 based on the ratings given to its competitors.

A number of brokerages have issued reports on ETM. Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications in a research note on Monday, November 27th. Zacks Investment Research raised Entercom Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, ValuEngine downgraded Entercom Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd.

In other Entercom Communications news, Chairman Joseph M. Field acquired 168,162 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average cost of $11.81 per share, with a total value of $1,985,993.22. Following the transaction, the chairman now owns 3,762,621 shares of the company’s stock, valued at $44,436,554.01. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David J. Field acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $11.60 per share, with a total value of $290,000.00. Following the completion of the transaction, the insider now directly owns 1,823,072 shares in the company, valued at approximately $21,147,635.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 423,444 shares of company stock valued at $4,978,398 over the last three months. Corporate insiders own 32.57% of the company’s stock.

Several large investors have recently modified their holdings of ETM. Virtu KCG Holdings LLC acquired a new stake in shares of Entercom Communications during the 2nd quarter worth about $159,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Entercom Communications during the 3rd quarter valued at about $186,000. Voya Investment Management LLC boosted its holdings in Entercom Communications by 14.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,392 shares of the company’s stock valued at $201,000 after acquiring an additional 2,383 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Entercom Communications by 46.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 22,707 shares of the company’s stock valued at $245,000 after acquiring an additional 7,174 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Entercom Communications by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,943 shares of the company’s stock valued at $258,000 after acquiring an additional 2,484 shares during the period. 78.14% of the stock is owned by hedge funds and other institutional investors.

Shares of Entercom Communications (NYSE:ETM) traded up $0.07 on Tuesday, hitting $9.87. The company’s stock had a trading volume of 174,385 shares, compared to its average volume of 2,813,521. Entercom Communications has a twelve month low of $9.40 and a twelve month high of $16.30. The firm has a market cap of $409.33, a P/E ratio of 37.85, a PEG ratio of 4.45 and a beta of 0.99. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.23.

Entercom Communications announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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Entercom Communications Company Profile

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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