Entercom Communications Corp. (NYSE:ETM) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 13,100,000 shares, a drop of 10.2% from the December 15th total of 14,590,000 shares. Approximately 11.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is presently 12.7 days.
A number of research analysts recently weighed in on ETM shares. ValuEngine raised shares of Entercom Communications from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research lowered shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Co started coverage on shares of Entercom Communications in a research note on Monday, September 23rd. They issued a “market perform” rating and a $4.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Entercom Communications currently has a consensus rating of “Buy” and an average target price of $3.34.
ETM traded up $0.08 during trading on Thursday, reaching $4.75. The company’s stock had a trading volume of 14,663 shares, compared to its average volume of 759,130. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.45. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $4.38. Entercom Communications has a 1 year low of $2.94 and a 1 year high of $7.94. The company has a market cap of $648.24 million, a price-to-earnings ratio of 5.61 and a beta of 1.41.
Entercom Communications (NYSE:ETM) last released its earnings results on Friday, November 8th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. Entercom Communications had a negative net margin of 21.49% and a positive return on equity of 8.73%. The business had revenue of $386.14 million for the quarter, compared to analyst estimates of $381.00 million. As a group, equities analysts forecast that Entercom Communications will post 0.82 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Entercom Communications by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,412,608 shares of the company’s stock valued at $66,193,000 after buying an additional 368,199 shares during the period. BlackRock Inc. increased its holdings in Entercom Communications by 1.9% in the 2nd quarter. BlackRock Inc. now owns 9,103,184 shares of the company’s stock valued at $52,799,000 after purchasing an additional 173,332 shares during the last quarter. Marathon Asset Management LLP increased its holdings in Entercom Communications by 42.2% in the 3rd quarter. Marathon Asset Management LLP now owns 5,214,918 shares of the company’s stock valued at $17,418,000 after purchasing an additional 1,548,588 shares during the last quarter. Northern Trust Corp increased its holdings in Entercom Communications by 1.1% in the 2nd quarter. Northern Trust Corp now owns 2,206,376 shares of the company’s stock valued at $12,796,000 after purchasing an additional 23,641 shares during the last quarter. Finally, Goldentree Asset Management LP acquired a new stake in Entercom Communications in the 2nd quarter valued at approximately $11,974,000. 72.35% of the stock is currently owned by institutional investors and hedge funds.
About Entercom Communications
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.
Recommended Story: Does a trade war provide a risk to the global economy?
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.