Consolidated Investment Group LLC increased its position in shares of Entercom Communications Corporation (NYSE:ETM) by 42.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,049 shares of the company’s stock after buying an additional 24,249 shares during the period. Consolidated Investment Group LLC owned approximately 0.20% of Entercom Communications Corporation worth $850,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Entercom Communications Corporation by 3.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 20,300 shares of the company’s stock worth $311,000 after buying an additional 720 shares during the period. Bank of America Corp DE raised its stake in Entercom Communications Corporation by 1.3% in the first quarter. Bank of America Corp DE now owns 81,955 shares of the company’s stock worth $1,172,000 after buying an additional 1,032 shares during the period. American International Group Inc. raised its stake in Entercom Communications Corporation by 7.1% in the first quarter. American International Group Inc. now owns 15,990 shares of the company’s stock worth $229,000 after buying an additional 1,065 shares during the period. Teachers Advisors LLC raised its stake in Entercom Communications Corporation by 2.9% in the first quarter. Teachers Advisors LLC now owns 60,887 shares of the company’s stock worth $871,000 after buying an additional 1,744 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in Entercom Communications Corporation by 16.7% in the first quarter. Eqis Capital Management Inc. now owns 19,713 shares of the company’s stock worth $282,000 after buying an additional 2,816 shares during the period. 49.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Entercom Communications Corporation (ETM) opened at 9.95 on Wednesday. The stock has a market cap of $405.08 million, a price-to-earnings ratio of 22.31 and a beta of 1.17. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $12.32. Entercom Communications Corporation has a 1-year low of $9.50 and a 1-year high of $16.55.

Entercom Communications Corporation (NYSE:ETM) last released its earnings results on Friday, July 28th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The firm had revenue of $125 million for the quarter, compared to the consensus estimate of $121.42 million. Entercom Communications Corporation had a return on equity of 8.50% and a net margin of 4.27%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, equities research analysts forecast that Entercom Communications Corporation will post $0.91 earnings per share for the current year.

The business also recently announced a dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 11th. Entercom Communications Corporation’s dividend payout ratio is currently 66.67%.

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A number of research firms have recently weighed in on ETM. Zacks Investment Research raised Entercom Communications Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Noble Financial reissued a “buy” rating on shares of Entercom Communications Corporation in a research note on Thursday, May 11th. TheStreet lowered Entercom Communications Corporation from a “b” rating to a “c” rating in a research note on Monday, May 8th. Finally, ValuEngine lowered Entercom Communications Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.

In related news, Chairman Joseph M. Field bought 4,793 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average price of $9.95 per share, with a total value of $47,690.35. Following the transaction, the chairman now owns 1,006,844 shares in the company, valued at approximately $10,018,097.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Joseph M. Field bought 219,073 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were bought at an average cost of $10.07 per share, for a total transaction of $2,206,065.11. Following the transaction, the chairman now owns 1,006,844 shares in the company, valued at approximately $10,138,919.08. The disclosure for this purchase can be found here. In the last three months, insiders have bought 583,087 shares of company stock worth $5,775,962. Corporate insiders own 32.57% of the company’s stock.

Entercom Communications Corporation Company 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.

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

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