American International Group Inc. Decreases Stake in Entercom Communications Corp. (NYSE:ETM)

American International Group Inc. lowered its position in shares of Entercom Communications Corp. (NYSE:ETM) by 3.1% in the first quarter, HoldingsChannel.com reports. The firm owned 81,660 shares of the company’s stock after selling 2,645 shares during the period. American International Group Inc.’s holdings in Entercom Communications were worth $429,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Entercom Communications in the 4th quarter valued at approximately $29,000. Comerica Bank bought a new position in Entercom Communications during the 1st quarter worth $93,000. Covington Capital Management bought a new position in Entercom Communications during the 4th quarter worth $101,000. SG Americas Securities LLC bought a new position in Entercom Communications during the 1st quarter worth $114,000. Finally, Legal & General Group Plc grew its stake in Entercom Communications by 10.9% during the 4th quarter. Legal & General Group Plc now owns 22,475 shares of the company’s stock worth $128,000 after buying an additional 2,212 shares during the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.

NYSE:ETM opened at $5.95 on Friday. Entercom Communications Corp. has a 1 year low of $5.16 and a 1 year high of $8.60. The firm has a market capitalization of $859.93 million, a PE ratio of 7.08 and a beta of 1.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.48.

Entercom Communications (NYSE:ETM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $309.01 million during the quarter, compared to analyst estimates of $309.30 million. Entercom Communications had a positive return on equity of 5.89% and a negative net margin of 23.42%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Entercom Communications Corp. will post 0.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.36 annualized dividend and a dividend yield of 6.05%. Entercom Communications’s dividend payout ratio (DPR) is 42.86%.

Several research firms have recently issued reports on ETM. TheStreet cut Entercom Communications from a “c” rating to a “d+” rating in a research note on Friday, March 29th. ValuEngine cut Entercom Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, B. Riley began coverage on Entercom Communications in a research note on Thursday, April 18th. They issued a “buy” rating and a $7.75 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $5.54.

In other news, Chairman Joseph M. Field acquired 100,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $5.81 per share, for a total transaction of $581,000.00. Following the completion of the acquisition, the chairman now directly owns 30,125 shares in the company, valued at approximately $175,026.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field acquired 30,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $5.25 per share, with a total value of $157,500.00. Following the acquisition, the chairman now owns 26,378 shares of the company’s stock, valued at $138,484.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 960,000 shares of company stock valued at $5,588,000. Insiders own 14.04% of the company’s stock.

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Entercom Communications Company 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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