Northern Trust Corp increased its holdings in shares of Entercom Communications Corp. (NYSE:ETM) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,612,570 shares of the company’s stock after purchasing an additional 11,478 shares during the quarter. Northern Trust Corp’s holdings in Entercom Communications were worth $19,725,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ETM. Aperio Group LLC increased its position in shares of Entercom Communications by 108.4% during the 2nd quarter. Aperio Group LLC now owns 25,031 shares of the company’s stock worth $189,000 after purchasing an additional 13,020 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Entercom Communications by 82.3% during the 1st quarter. Xact Kapitalforvaltning AB now owns 23,700 shares of the company’s stock valued at $229,000 after acquiring an additional 10,700 shares during the period. Abacus Planning Group Inc. purchased a new position in Entercom Communications during the 2nd quarter valued at about $271,000. Unison Advisors LLC purchased a new position in Entercom Communications during the 2nd quarter valued at about $317,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Entercom Communications by 149.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 37,273 shares of the company’s stock valued at $360,000 after acquiring an additional 22,354 shares during the period. 85.64% of the stock is owned by hedge funds and other institutional investors.
ETM has been the subject of a number of research analyst reports. Zacks Investment Research cut Entercom Communications from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. ValuEngine cut Entercom Communications from a “hold” rating to a “sell” rating in a report on Saturday, July 28th.
Entercom Communications (NYSE:ETM) last announced its earnings results on Wednesday, August 8th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.40. Entercom Communications had a negative return on equity of 1.62% and a net margin of 21.63%. The company had revenue of $372.10 million during the quarter, compared to analysts’ expectations of $379.40 million. During the same period last year, the business posted $0.15 EPS. Entercom Communications’s revenue for the quarter was up 197.7% on a year-over-year basis.
Entercom Communications Company Profile
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.
See Also: How accurate is the Rule of 72?
Want to see what other hedge funds are holding ETM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entercom Communications Corp. (NYSE:ETM).
Receive News & Ratings for Entercom Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Entercom Communications and related companies with MarketBeat.com's FREE daily email newsletter.