Gamco Investors INC. ET AL purchased a new position in shares of Entercom Communications Corporation (NYSE:ETM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 130,700 shares of the company’s stock, valued at approximately $1,497,000. Gamco Investors INC. ET AL owned about 0.32% of Entercom Communications Corporation as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ETM. Tower Research Capital LLC TRC purchased a new stake in shares of Entercom Communications Corporation during the 2nd quarter worth approximately $122,000. Aperio Group LLC purchased a new stake in shares of Entercom Communications Corporation during the 2nd quarter worth approximately $134,000. Good Life Advisors LLC increased its stake in shares of Entercom Communications Corporation by 6.3% during the 2nd quarter. Good Life Advisors LLC now owns 14,290 shares of the company’s stock worth $140,000 after purchasing an additional 842 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Entercom Communications Corporation during the 2nd quarter worth approximately $159,000. Finally, Zacks Investment Management purchased a new stake in shares of Entercom Communications Corporation during the 2nd quarter worth approximately $186,000. Institutional investors own 57.81% of the company’s stock.
Several brokerages have recently issued reports on ETM. BidaskClub upgraded shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Noble Financial restated a “buy” rating on shares of Entercom Communications Corporation in a research note on Monday, July 31st.
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Entercom Communications Corporation (ETM) opened at $10.45 on Tuesday. Entercom Communications Corporation has a one year low of $9.45 and a one year high of $16.55. The firm has a market cap of $435.80, a P/E ratio of 13.21, a P/E/G ratio of 11.63 and a beta of 1.09. 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 Corporation (NYSE:ETM) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Entercom Communications Corporation had a net margin of 2.69% and a return on equity of 8.67%. The business had revenue of $122.30 million during the quarter, compared to analyst estimates of $120.76 million. During the same period in the previous year, the business earned $0.27 EPS. Entercom Communications Corporation’s revenue was up .6% compared to the same quarter last year. equities analysts predict that Entercom Communications Corporation will post 0.46 earnings per share for the current fiscal year.
Entercom Communications Corporation declared that its board has authorized a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 22.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a $0.09 dividend. The ex-dividend date is Monday, November 27th. This represents a $0.36 dividend on an annualized basis and a yield of 3.44%. Entercom Communications Corporation’s dividend payout ratio is 115.38%.
Entercom Communications Corporation 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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