Tocqueville Asset Management L.P. lifted its stake in shares of Entercom Communications Corp. (NYSE:ETM) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 890,549 shares of the company’s stock after buying an additional 48,444 shares during the quarter. Tocqueville Asset Management L.P. owned 0.62% of Entercom Communications worth $7,035,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Entercom Communications by 8.8% during the 2nd quarter. BlackRock Inc. now owns 8,996,552 shares of the company’s stock valued at $67,925,000 after buying an additional 731,432 shares during the period. Dimensional Fund Advisors LP increased its holdings in Entercom Communications by 37.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,333,431 shares of the company’s stock worth $26,333,000 after purchasing an additional 915,153 shares during the last quarter. Marathon Asset Management LLP purchased a new stake in Entercom Communications during the 3rd quarter worth approximately $25,792,000. Primecap Management Co. CA increased its holdings in Entercom Communications by 1.9% during the 3rd quarter. Primecap Management Co. CA now owns 2,923,738 shares of the company’s stock worth $23,098,000 after purchasing an additional 55,900 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Entercom Communications by 0.4% during the 2nd quarter. Northern Trust Corp now owns 2,612,570 shares of the company’s stock worth $19,725,000 after purchasing an additional 11,478 shares during the last quarter. Institutional investors and hedge funds own 86.93% of the company’s stock.
ETM has been the topic of several analyst reports. Guggenheim initiated coverage on Entercom Communications in a report on Thursday, November 1st. They set a “buy” rating and a $8.50 price objective on the stock. Zacks Investment Research downgraded Entercom Communications from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Wolfe Research initiated coverage on Entercom Communications in a report on Friday. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Entercom Communications has an average rating of “Hold” and an average price target of $8.42.
ETM stock opened at $6.46 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.68 and a current ratio of 2.68. Entercom Communications Corp. has a 52-week low of $5.82 and a 52-week high of $11.70.
Entercom Communications (NYSE:ETM) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). Entercom Communications had a return on equity of 0.14% and a net margin of 19.89%. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $378.00 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Entercom Communications’s revenue for the quarter was up 209.5% compared to the same quarter last year. Sell-side analysts expect that Entercom Communications Corp. will post 0.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 27th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, November 26th. This represents a $0.36 annualized dividend and a yield of 5.57%. Entercom Communications’s dividend payout ratio is presently -80.00%.
In other news, Chairman Joseph M. Field bought 14,800 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was bought at an average price of $7.00 per share, for a total transaction of $103,600.00. Following the transaction, the chairman now owns 40,990 shares in the company, valued at $286,930. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field bought 400,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was purchased at an average price of $6.53 per share, with a total value of $2,612,000.00. Following the transaction, the chairman now owns 40,990 shares in the company, valued at approximately $267,664.70. The disclosure for this purchase can be found here. Insiders have acquired a total of 665,970 shares of company stock worth $4,382,124 over the last 90 days. 32.57% of the stock is owned by company insiders.
Entercom Communications Profile
Entercom Communications Corp. operates as a radio broadcasting company in the United States. 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 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.
Featured Article: How to read a candlestick chart
Want to see what other hedge funds are holding ETM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entercom Communications Corp. (NYSE:ETM).
Receive News & Ratings for Entercom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications and related companies with MarketBeat.com's FREE daily email newsletter.