Trading Report: The California Public Employees Retirement System Sold shares of Entercom Communications Corp. (ETM)

The California Public Employees Retirement System Sold shares of Entercom Communications Corp. (ETM)

California Public Employees Retirement System cut its stake in shares of Entercom Communications Corp. (NYSE:ETM) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,500 shares of the company’s stock after selling 4,400 shares during the period. California Public Employees Retirement System owned 0.35% of Entercom Communications Corp. worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ETM. Columbia Partners L L C Investment Management increased its position in Entercom Communications Corp. by 82.7% in the first quarter. Columbia Partners L L C Investment Management now owns 188,618 shares of the company’s stock valued at $1,995,000 after buying an additional 85,379 shares during the last quarter. JPMorgan Chase & Co. increased its position in Entercom Communications Corp. by 8.9% in the first quarter. JPMorgan Chase & Co. now owns 4,050,441 shares of the company’s stock valued at $42,854,000 after buying an additional 330,602 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Entercom Communications Corp. during the first quarter valued at $261,000. State Street Corp increased its position in Entercom Communications Corp. by 0.6% in the first quarter. State Street Corp now owns 390,319 shares of the company’s stock valued at $4,129,000 after buying an additional 2,163 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Entercom Communications Corp. by 11.1% in the first quarter. Geode Capital Management LLC now owns 146,574 shares of the company’s stock valued at $1,550,000 after buying an additional 14,661 shares during the last quarter. 45.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Entercom Communications Corp. (NYSE:ETM) traded down 1.96% during trading on Friday, reaching $13.54. The company’s stock had a trading volume of 22,307 shares. The company’s 50-day moving average price is $13.45 and its 200 day moving average price is $12.77. Entercom Communications Corp. has a 1-year low of $8.88 and a 1-year high of $14.94. The stock has a market capitalization of $549.75 million, a price-to-earnings ratio of 14.57 and a beta of 1.59.

Entercom Communications Corp. (NYSE:ETM) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm earned $120.50 million during the quarter, compared to analysts’ expectations of $119.12 million. Entercom Communications Corp. had a net margin of 8.41% and a return on equity of 9.41%. Entercom Communications Corp.’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. Analysts anticipate that Entercom Communications Corp. will post $0.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Thursday, August 11th. Entercom Communications Corp.’s dividend payout ratio is presently 32.97%.

A number of equities research analysts have commented on the company. TheStreet upgraded Entercom Communications Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th. Zacks Investment Research cut Entercom Communications Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th.

About Entercom Communications Corp.

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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