Alliancebernstein L.P. maintained its stake in shares of Entercom Communications Corporation (NYSE:ETM) during the first quarter, Holdings Channel reports. The institutional investor owned 17,300 shares of the company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Entercom Communications Corporation were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Bowling Portfolio Management LLC purchased a new stake in shares of Entercom Communications Corporation during the first quarter worth approximately $193,000. American International Group Inc. raised its stake in shares of 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. Eqis Capital Management Inc. raised its stake in shares of 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. BNP Paribas Arbitrage SA raised its stake in shares of Entercom Communications Corporation by 1,624.0% in the first quarter. BNP Paribas Arbitrage SA now owns 30,205 shares of the company’s stock worth $432,000 after buying an additional 28,453 shares during the period. Finally, Wells Fargo & Company MN raised its stake 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 during the period. Institutional investors own 49.50% of the company’s stock.

Shares of Entercom Communications Corporation (NYSE ETM) traded down 0.246% during mid-day trading on Wednesday, hitting $10.125. The stock had a trading volume of 10,717 shares. The firm’s 50 day moving average price is $9.94 and its 200 day moving average price is $12.07. Entercom Communications Corporation has a 1-year low of $9.45 and a 1-year high of $16.55. The company has a market cap of $412.68 million, a P/E ratio of 22.702 and a beta of 1.17.

Entercom Communications Corporation (NYSE:ETM) last posted its earnings results 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. Entercom Communications Corporation had a net margin of 4.27% and a return on equity of 8.50%. The firm had revenue of $125 million for the quarter, compared to analysts’ expectations of $121.42 million. During the same quarter last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Entercom Communications Corporation will post $0.91 earnings per share for the current fiscal year.

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

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A number of analysts have recently commented on ETM shares. Noble Financial restated a “buy” rating on shares of Entercom Communications Corporation in a report on Monday, July 31st. TheStreet lowered Entercom Communications Corporation from a “b” rating to a “c” rating in a report on Monday, May 8th. BidaskClub upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research upgraded Entercom Communications Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, ValuEngine lowered Entercom Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

In other news, Chairman Joseph M. Field bought 219,073 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were purchased at an average price of $10.07 per share, with a total value of $2,206,065.11. Following the transaction, the chairman now directly owns 1,006,844 shares in the company, valued at $10,138,919.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Joseph M. Field bought 135,832 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $9.73 per share, for a total transaction of $1,321,645.36. Following the transaction, the chairman now owns 1,006,844 shares in the company, valued at $9,796,592.12. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 514,471 shares of company stock worth $5,098,722. Insiders own 32.57% 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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Institutional Ownership by Quarter for Entercom Communications Corporation (NYSE:ETM)

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