Entercom Communications Corporation (NYSE:ETM) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Entercom Communications Corporation from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 3rd. TheStreet downgraded Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. ValuEngine downgraded Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Noble Financial reiterated a “buy” rating on shares of Entercom Communications Corporation in a report on Thursday, May 11th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.00.

Entercom Communications Corporation (NYSE ETM) traded up 0.76% during midday trading on Friday, hitting $9.95. The company’s stock had a trading volume of 157,451 shares. The company has a market cap of $405.55 million, a PE ratio of 22.31 and a beta of 1.17. Entercom Communications Corporation has a 52-week low of $9.45 and a 52-week high of $16.55. The stock has a 50 day moving average of $9.95 and a 200 day moving average of $12.20.

Entercom Communications Corporation (NYSE:ETM) last released its quarterly earnings data on Friday, July 28th. The company reported $0.26 EPS for the quarter, topping 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 quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, equities analysts expect that Entercom Communications Corporation will post $0.91 EPS for the current year.

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In other Entercom Communications Corporation news, Chairman Joseph M. Field purchased 135,832 shares of Entercom Communications Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $9.73 per share, for a total transaction of $1,321,645.36. Following the acquisition, the chairman now directly owns 1,006,844 shares in the company, valued at $9,796,592.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph M. Field purchased 68,616 shares of Entercom Communications Corporation stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $9.87 per share, for a total transaction of $677,239.92. Following the acquisition, the chairman now owns 1,006,844 shares in the company, valued at $9,937,550.28. The disclosure for this purchase can be found here. In the last quarter, insiders bought 583,087 shares of company stock worth $5,775,962. Company insiders own 32.57% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its position in shares of 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 in the last quarter. State Street Corp increased its position in shares of Entercom Communications Corporation by 7.9% in the fourth quarter. State Street Corp now owns 436,208 shares of the company’s stock worth $6,674,000 after buying an additional 31,840 shares in the last quarter. Bank of Montreal Can increased its position in shares of Entercom Communications Corporation by 31,901.0% in the first quarter. Bank of Montreal Can now owns 245,768 shares of the company’s stock worth $3,515,000 after buying an additional 245,000 shares in the last quarter. Consolidated Investment Group LLC acquired a new position in shares of Entercom Communications Corporation during the first quarter worth about $826,000. Finally, Wells Fargo & Company MN increased its position in shares of Entercom Communications Corporation by 18.0% in the first quarter. Wells Fargo & Company MN now owns 40,325 shares of the company’s stock worth $577,000 after buying an additional 6,145 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

About Entercom Communications Corporation

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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