MetLife Investment Advisors LLC Takes $647,000 Position in Entercom Communications (ETM)

MetLife Investment Advisors LLC bought a new stake in shares of Entercom Communications (NYSE:ETM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,866 shares of the company’s stock, valued at approximately $647,000. MetLife Investment Advisors LLC owned approximately 0.15% of Entercom Communications as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ETM. Amalgamated Bank purchased a new position in shares of Entercom Communications during the 4th quarter valued at $185,000. AXA lifted its stake in shares of Entercom Communications by 35.6% during the 4th quarter. AXA now owns 19,800 shares of the company’s stock valued at $214,000 after buying an additional 5,200 shares in the last quarter. Ellington Management Group LLC purchased a new position in shares of Entercom Communications during the 4th quarter valued at $222,000. Clear Harbor Asset Management LLC lifted its stake in shares of 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 buying an additional 7,174 shares in the last quarter. Finally, Levin Capital Strategies L.P. purchased a new position in shares of Entercom Communications during the 4th quarter valued at $268,000. Institutional investors own 84.65% of the company’s stock.

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ETM opened at $9.90 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.02 and a current ratio of 2.02. Entercom Communications has a fifty-two week low of $9.25 and a fifty-two week high of $13.60. The firm has a market cap of $1,302.17, a P/E ratio of -22.00 and a beta of 1.08.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings results on Thursday, March 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.12). The company had revenue of $246.61 million during the quarter, compared to the consensus estimate of $276.82 million. Entercom Communications had a net margin of 39.55% and a return on equity of 0.08%. The business’s revenue was up 98.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. equities analysts expect that Entercom Communications will post 1.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were issued a $0.09 dividend. The ex-dividend date was Tuesday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 3.64%. Entercom Communications’s dividend payout ratio is currently -80.00%.

ETM has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, January 29th. Noble Financial restated a “buy” rating on shares of Entercom Communications in a research note on Friday, March 9th. Finally, ValuEngine cut shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Entercom Communications presently has a consensus rating of “Hold” and a consensus price target of $12.00.

In related news, Chairman Joseph M. Field purchased 200,000 shares of Entercom Communications stock in a transaction on Monday, March 12th. The shares were bought at an average cost of $9.95 per share, for a total transaction of $1,990,000.00. Following the acquisition, the chairman now owns 3,971,897 shares in the company, valued at approximately $39,520,375.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph M. Field purchased 415,125 shares of Entercom Communications stock in a transaction on Monday, April 16th. The stock was bought at an average price of $9.65 per share, for a total transaction of $4,005,956.25. Following the completion of the acquisition, the chairman now owns 6,071,022 shares in the company, valued at approximately $58,585,362.30. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,580,125 shares of company stock worth $25,122,056. 10.19% of the stock is currently owned by insiders.

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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.

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

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