State of New Jersey Common Pension Fund D Boosts Holdings in Entercom Communications Corp. (NYSE:ETM)

State of New Jersey Common Pension Fund D grew its holdings in shares of Entercom Communications Corp. (NYSE:ETM) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 746,038 shares of the company’s stock after buying an additional 160,000 shares during the period. State of New Jersey Common Pension Fund D owned 0.52% of Entercom Communications worth $4,259,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Zeke Capital Advisors LLC acquired a new stake in Entercom Communications in the third quarter valued at approximately $123,000. Campbell & CO Investment Adviser LLC acquired a new position in Entercom Communications in the 3rd quarter valued at $152,000. Private Advisor Group LLC bought a new position in shares of Entercom Communications in the third quarter worth about $172,000. New Jersey Better Educational Savings Trust bought a new position in Entercom Communications in the fourth quarter valued at approximately $206,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Entercom Communications in the third quarter valued at $505,000. 88.93% of the stock is owned by institutional investors and hedge funds.

In other Entercom Communications news, Chairman Joseph M. Field purchased 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were acquired at an average cost of $5.54 per share, for a total transaction of $1,108,000.00. Following the transaction, the chairman now directly owns 40,990 shares in the company, valued at $227,084.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph M. Field purchased 14,800 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was bought at an average cost of $7.00 per share, with a total value of $103,600.00. Following the completion of the purchase, the chairman now owns 40,990 shares of the company’s stock, valued at approximately $286,930. The disclosure for this purchase can be found here. Insiders acquired a total of 1,464,870 shares of company stock valued at $9,353,424 over the last three months. Corporate insiders own 10.19% of the company’s stock.

Shares of NYSE:ETM opened at $7.34 on Thursday. Entercom Communications Corp. has a 12-month low of $5.27 and a 12-month high of $10.95. The firm has a market cap of $1.01 billion, a P/E ratio of -16.31 and a beta of 1.17. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.68 and a quick ratio of 2.68.

A number of analysts recently commented on ETM shares. Guggenheim began coverage on Entercom Communications in a research report on Thursday, November 1st. They set a “buy” rating and a $8.50 price objective for the company. Wolfe Research initiated coverage on shares of Entercom Communications in a research note on Friday, December 7th. They set an “outperform” rating on the stock. ValuEngine cut shares of Entercom Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, $1 upped their price objective on Entercom Communications to $1.34 and gave the company a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $6.65.

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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.

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Institutional Ownership by Quarter for Entercom Communications (NYSE:ETM)

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