These Numbers Could Change Investor Views For Entercom Communications Corp. (NYSE: ETM)

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FIVE Stock

Credit Suisse Securities (USA) LL.. recently announced the acquisition of new stake in Entercom Communications Corp. (NYSE:ETM). The institutional investor has increased its shareholding in the Communication Services company by 3,865.79% to 9.48 million shares with purchase of 9.24 million shares. This fresh investment now brings its stake to 7.08% valued currently at $13.28 million. In addition, Geode Capital Management LLC raised its holdings by 30186.0 to 1.69 million shares.

With over 1.01 million Entercom Communications Corp. (ETM) shares trading Friday and a closing price of $1.61 on the day, the dollar volume was approximately $1.63 million. The shares have shown a positive weekly performance of 4.55% and its price on 08/28/20 lost nearly -1.23%. Currently, there are 134.81M common shares owned by the public and among those 112.57M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ETM have a consensus price objective of $2.00. The analysts have set the share’s price value over the next 12 months at a high of $3.50 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Entercom Communications Corp. stock is 2.80 for the next 12 months. The average price target is 10.56% above its last price level and an upside to the estimated low will see the stock lose -61.0% over that period. But an upside of 54.0% will see the stock hit the forecast high price target while mean target price for the stock is $1.75.

Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 2,320,509 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 168,477 shares.

The top 3 mutual fund holders in Entercom Communications Corp. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 3.36 million shares of the company’s stock, all valued at over $4.7 million. iShares Russell 2000 ETF sold -0.12 million shares to see its total holdings shrink to 2.67 million shares valued at over $3.73 million and representing 1.99% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.32% of the shares outstanding.

Shares of Entercom Communications Corp. (NYSE: ETM) opened at $1.68, up $0.05 from a prior closing price of $1.63. However, the script later closed the day at $1.61, down -1.23%. The company’s stock has a 5-day price change of 4.55% and -5.85% over the past three months. ETM shares are trading -65.30% year to date (YTD), with the 12-month market performance down to -54.39% lower. It has a 12-month low price of $0.75 and touched a high of $5.22 over the same period. Currently, 1.01 million shares have been traded, compared to an average intraday trading volume of 1.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.97%, 6.43%, and -40.32% respectively.

Institutional ownership of Entercom Communications Corp. (NYSE: ETM) shares accounts for 57.20% of the company’s 134.81M shares outstanding. Mutual fund holders own 24.33%, while other institutional holders and individual stakeholders account for 31.35% and 15.72% respectively.

It has a market capitalization of $222.70M and a beta (3y monthly) value of 1.62. The earnings-per-share (ttm) stands at -$3.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.70% over the week and 8.30% over the month.

Analysts forecast that Entercom Communications Corp. (ETM) will achieve an EPS of -$0.08 for the current quarter, $0.22 for the next quarter and $0.44 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to decrease by -17.10%, and 246.70% over the next financial year.

Looking at the support for the ETM, a number of firms have released research notes about the stock. B. Riley FBR stated their Neutral rating for the stock in a research note on April 07, 2020, with the firm’s price target at $4.50-$1. Wells Fargo coverage for the Entercom Communications Corp. (ETM) stock in a research note released on September 24, 2019 offered a Market Perform rating with a price target of. B. Riley FBR was of a view on April 18, 2019 that the stock is Buy, while Guggenheim gave the stock Buy rating on November 01, 2018, issuing a price target of. Wells Fargo on their part issued Outperform rating on August 18, 2015.


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