Wells Fargo & Company MN Has $523,000 Holdings in Entercom Communications Corporation (ETM)

Wells Fargo & Company MN raised its position in shares of Entercom Communications Corporation (NYSE:ETM) by 25.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,606 shares of the company’s stock after buying an additional 10,281 shares during the quarter. Wells Fargo & Company MN owned 0.15% of Entercom Communications Corporation worth $523,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Aperio Group LLC purchased a new stake in Entercom Communications Corporation during the second quarter valued at about $134,000. Good Life Advisors LLC lifted its stake in Entercom Communications Corporation by 6.3% during the second quarter. Good Life Advisors LLC now owns 14,290 shares of the company’s stock valued at $140,000 after buying an additional 842 shares in the last quarter. American International Group Inc. lifted its stake in Entercom Communications Corporation by 7.1% during the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock valued at $229,000 after buying an additional 1,065 shares in the last quarter. Bowling Portfolio Management LLC lifted its stake in Entercom Communications Corporation by 128.2% during the second quarter. Bowling Portfolio Management LLC now owns 30,828 shares of the company’s stock valued at $319,000 after buying an additional 17,319 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Entercom Communications Corporation by 9.5% during the second quarter. BNP Paribas Arbitrage SA now owns 33,088 shares of the company’s stock valued at $342,000 after buying an additional 2,883 shares in the last quarter. 57.81% of the stock is owned by institutional investors.

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ETM has been the subject of a number of analyst reports. Noble Financial reaffirmed a “buy” rating on shares of Entercom Communications Corporation in a research note on Monday, July 31st. BidaskClub raised shares of Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th.

Entercom Communications Corporation (ETM) opened at $10.70 on Monday. The firm has a market capitalization of $435.80, a PE ratio of 13.21, a PEG ratio of 11.63 and a beta of 1.09. Entercom Communications Corporation has a twelve month low of $9.45 and a twelve month high of $16.55. 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 issued its earnings results 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. The company had revenue of $122.30 million for the quarter, compared to the consensus estimate of $120.76 million. Entercom Communications Corporation had a return on equity of 8.67% and a net margin of 2.69%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. sell-side analysts forecast that Entercom Communications Corporation will post 0.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be issued a $0.09 dividend. The ex-dividend date is Monday, November 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.36%. Entercom Communications Corporation’s dividend payout ratio is 115.38%.

Entercom Communications Corporation declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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

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