A number of other institutional investors also recently modified their holdings of the stock. Hancock Holding Co. acquired a new position in shares of Entercom Communications Corporation during the third quarter valued at about $130,000. First Trust Advisors LP increased its stake in Entercom Communications Corporation by 8.2% in the third quarter. First Trust Advisors LP now owns 13,800 shares of the company’s stock worth $179,000 after buying an additional 1,044 shares during the period. Eqis Capital Management Inc. increased its stake in Entercom Communications Corporation by 19.1% in the third quarter. Eqis Capital Management Inc. now owns 16,847 shares of the company’s stock worth $218,000 after buying an additional 2,706 shares during the period. Citadel Advisors LLC increased its stake in Entercom Communications Corporation by 19.7% in the third quarter. Citadel Advisors LLC now owns 18,469 shares of the company’s stock worth $239,000 after buying an additional 3,034 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Entercom Communications Corporation during the second quarter worth $266,000. Institutional investors own 43.90% of the company’s stock.
Barrow Hanley Mewhinney & Strauss LLC cut its position in shares of Entercom Communications Corporation (NYSE:ETM) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,787 shares of the company’s stock after selling 1,776 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Entercom Communications Corporation were worth $3,332,000 as of its most recent SEC filing.
Entercom Communications Corporation (NYSE:ETM) traded up 1.32% during midday trading on Monday, reaching $15.30. The company’s stock had a trading volume of 43,070 shares. The firm has a 50-day moving average price of $14.94 and a 200 day moving average price of $14.25. Entercom Communications Corporation has a 52-week low of $10.17 and a 52-week high of $16.55. The stock has a market capitalization of $621.33 million, a price-to-earnings ratio of 15.47 and a beta of 1.30.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, February 24th. Entercom Communications Corporation’s payout ratio is presently 30.61%.
Separately, Zacks Investment Research downgraded Entercom Communications Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 10th.
In related news, insider Andrew P. Iv Sutor sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $14.26, for a total transaction of $106,950.00. Following the completion of the transaction, the insider now directly owns 64,177 shares in the company, valued at approximately $915,164.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen F. Fisher sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $15.16, for a total transaction of $151,600.00. Following the transaction, the vice president now owns 531,597 shares of the company’s stock, valued at $8,059,010.52. The disclosure for this sale can be found here. Insiders sold a total of 405,588 shares of company stock valued at $6,279,832 over the last 90 days. Corporate insiders own 33.24% of the company’s stock.
About Entercom Communications Corporation
Entercom Communications Corp. is a radio broadcasting company. The Company has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Company operates through the radio broadcasting segment. The Company sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths.
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