Traders Buy High Volume of Entercom Communications Call Options (ETM)


Entercom Communications (NYSE:ETM) saw unusually large options trading activity on Thursday. Stock investors acquired 31,151 call options on the stock. This is an increase of 1,443% compared to the typical volume of 2,019 call options.


ETM has been the subject of several research reports. Zacks Investment Research raised shares of Entercom Communications from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, January 29th. Noble Financial reissued a “buy” rating on shares of Entercom Communications in a research note on Friday, March 9th. Finally, ValuEngine cut shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.


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Entercom Communications opened at $7.50 on Friday, MarketBeat.com reports. Entercom Communications has a 1-year low of $7.28 and a 1-year high of $7.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.02 and a quick ratio of 2.02. The firm has a market capitalization of $1.05 billion, a P/E ratio of -16.67 and a beta of 1.07.

Entercom Communications (NYSE:ETM) last released its earnings results on Tuesday, May 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.17). Entercom Communications had a net margin of 28.86% and a negative return on equity of 1.81%. The firm had revenue of $300.60 million during the quarter, compared to the consensus estimate of $316.70 million. During the same period in the prior year, the business posted $0.07 earnings per share. Entercom Communications’s quarterly revenue was up 208.3% compared to the same quarter last year. sell-side analysts anticipate that Entercom Communications will post 1.33 EPS for the current year.


In other Entercom Communications news, Chairman Joseph M. Field purchased 100,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was bought at an average cost of $9.99 per share, with a total value of $999,000.00. Following the purchase, the chairman now directly owns 3,971,897 shares of the company’s stock, valued at $39,679,251.03. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Joseph M. Field purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The shares were acquired at an average cost of $10.00 per share, with a total value of $500,000.00. Following the completion of the purchase, the chairman now directly owns 5,718,735 shares in the company, valued at $57,187,350. The disclosure for this purchase can be found here. Insiders have bought a total of 3,125,749 shares of company stock valued at $30,008,927 over the last ninety days. Company insiders own 32.57% of the company’s stock.


Several large investors have recently added to or reduced their stakes in ETM. Private Advisor Group LLC bought a new position in shares of Entercom Communications in the first quarter valued at $106,000. Bronfman E.L. Rothschild L.P. grew its stake in shares of Entercom Communications by 170.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 12,870 shares of the company’s stock valued at $124,000 after buying an additional 8,103 shares in the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Entercom Communications in the fourth quarter valued at $140,000. Amalgamated Bank bought a new position in shares of Entercom Communications in the fourth quarter valued at $185,000. Finally, AXA grew its stake in shares of Entercom Communications by 35.6% in the fourth quarter. AXA now owns 19,800 shares of the company’s stock valued at $214,000 after buying an additional 5,200 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.


About Entercom Communications

Entercom Communications Corp. operates as a radio broadcasting company in the United States. The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.

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