Shorts Action: Time to Reconsider Entercom Communications Corporation (NYSE:ETM) After Less Short Sellers?

January 11, 2017 - By Adrian Mccoy   ·   0 Comments

Shorts Action: Time to Reconsider Entercom Communications Corporation (NYSE:ETM) After Less Short Sellers?

The stock of Entercom Communications Corporation (NYSE:ETM) registered a decrease of 11.36% in short interest. ETM’s total short interest was 727,800 shares in January as published by FINRA. Its down 11.36% from 821,100 shares, reported previously. With 120,000 shares average volume, it will take short sellers 6 days to cover their ETM’s short positions. The short interest to Entercom Communications Corporation’s float is 3.33%. About 40,452 shares traded hands. Entercom Communications Corp. (NYSE:ETM) has risen 17.06% since June 7, 2016 and is uptrending. It has outperformed by 9.64% the S&P500.

Entercom Communications Corp. is a radio broadcasting company. The company has a market cap of $625.46 million. The Firm has a portfolio of approximately 130 radio stations in over 30 markets across the United States. It has a 15.71 P/E ratio. The Firm operates through the radio broadcasting segment.

Insitutional Activity: The institutional sentiment decreased to 1.42 in 2016 Q3. Its down 0.29, from 1.71 in 2016Q2. The ratio worsened, as 12 funds sold all Entercom Communications Corp. shares owned while 21 reduced positions. 8 funds bought stakes while 39 increased positions. They now own 17.94 million shares or 1.98% less from 18.31 million shares in 2016Q2.
Prudential Incorporated accumulated 109,028 shares or 0% of the stock. State Of New Jersey Common Pension Fund D holds 0.01% or 120,000 shares in its portfolio. Martingale Asset Mngmt L P holds 0.02% or 89,257 shares in its portfolio. Great West Life Assurance Can has 0% invested in the company for 6,532 shares. Brandywine Global Investment Mgmt Ltd has invested 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Northern Tru accumulated 1.07 million shares or 0% of the stock. Legal And General Group Inc Public Ltd Company holds 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM) for 4,732 shares. Group has 0% invested in the company for 14,964 shares. Moreover, Bancorporation Of America De has 0% invested in Entercom Communications Corp. (NYSE:ETM) for 78,436 shares. Bnp Paribas Arbitrage has 0% invested in the company for 1,750 shares. Tower Capital Ltd Com (Trc) reported 9 shares or 0% of all its holdings. Denali Advsr Ltd Co has invested 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). The British Columbia – Canada-based Connor Clark Lunn Invest Management has invested 0% in Entercom Communications Corp. (NYSE:ETM). Credit Suisse Ag has 0% invested in the company for 19,424 shares. Us Bancorp De has 167 shares for 0% of their US portfolio.

Insider Transactions: Since November 15, 2016, the stock had 0 buys, and 9 selling transactions for $5.84 million net activity. The insider FISHER STEPHEN F sold $151,614. FIELD DAVID J had sold 79,607 shares worth $1.27 million. KRAMER LOUISE C had sold 44,613 shares worth $684,342 on Thursday, November 17. SUTOR ANDREW P IV had sold 6,000 shares worth $91,889.

Entercom Communications Corp. (NYSE:ETM) Ratings Coverage

Out of 2 analysts covering Entercom Communications (NYSE:ETM), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Entercom Communications has been the topic of 2 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was upgraded on Tuesday, August 18 by Wells Fargo. Stephens initiated it with “Equal-Weight” rating and $12 target price in Friday, December 11 report.

ETM Company Profile

Entercom Communications Corp., incorporated on October 21, 1968, is a radio broadcasting company. The Firm has a portfolio of approximately 130 radio stations in over 30 markets across the United States. The Firm operates through the radio broadcasting segment. The Firm sells advertising time to local, regional and national advertisers and national network advertisers, engaged in purchasing spot commercials in varying lengths. The Firm has both frequency modulation (FM) and amplitude modulation (AM) radio stations.

More important recent Entercom Communications Corp. (NYSE:ETM) news were published by: Moodys.com which released: “Moody’s upgrades Entercom Communications to B1 from B2; outlook remains stable” on May 11, 2016, also Quotes.Wsj.com published article titled: “DOW JONES, A NEWS CORP COMPANY”, Businesswire.com published: “Entercom Agrees to Acquire Four Radio Stations in Charlotte, NC from Beasley …” on October 18, 2016. More interesting news about Entercom Communications Corp. (NYSE:ETM) was released by: Blogs.Wsj.com and their article: “CFO Moves: Entercom Communications, Wesco Aircraft Holdings, SysGroup” with publication date: December 01, 2016.

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By Adrian Mccoy

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