Stock Worth Watching: Will Entercom Communications Corp. Run Out of Steam Soon?

Stock Worth Watching: Will Entercom Communications Corp. Run Out of Steam Soon?

The stock of Entercom Communications Corp. (NYSE:ETM) hit a new 52-week high and has $20.89 target or 37.00% above today’s $15.25 share price. The 9 months bullish chart indicates low risk for the $658.02M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $20.89 price target is reached, the company will be worth $243.47 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 92,580 shares traded hands or 31.14% up from the average. Entercom Communications Corp. (NYSE:ETM) has risen 40.88% since April 15, 2016 and is uptrending. It has outperformed by 36.26% the S&P500.

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 stock of Entercom Communications Corp. (NYSE:ETM) earned “Outperform” rating by Wells Fargo on Tuesday, August 18. The stock of Entercom Communications Corp. (NYSE:ETM) earned “Equal-Weight” rating by Stephens on Friday, December 11.

According to Zacks Investment Research, “Entercom Communications is the fourth largest radio broadcasting company in the United States. The company has built a highly consolidated portfolio of radio stations concentrated primarily in top 50 markets with above average growth characteristics. The company’s portfolio of radio stations is geographically diverse and offers a wide variety of programming formats. The company believes that geographic diversity will reduce the effect of economic downturn, while wide range of programming formats lessens the impact of changes in listening preferences.”

Insitutional Activity: The institutional sentiment increased to 1.71 in 2016 Q2. Its up 0.34, from 1.37 in 2016Q1. The ratio increased, as 6 funds sold all Entercom Communications Corp. shares owned while 25 reduced positions. 16 funds bought stakes while 37 increased positions. They now own 18.31 million shares or 3.09% more from 17.76 million shares in 2016Q1.
Chicago Equity Limited Co holds 25,780 shares or 0.01% of its portfolio. Moreover, Bancshares Of Montreal Can has 0% invested in Entercom Communications Corp. (NYSE:ETM) for 768 shares. Alliancebernstein L P holds 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM) for 14,700 shares. Brandywine Glob Ltd Liability Com last reported 0% of its portfolio in the stock. Clear Harbor Asset Management Ltd Liability Corp reported 73,733 shares or 0.22% of all its holdings. Moreover, Blackrock Inv Mgmt Limited Company has 0% invested in Entercom Communications Corp. (NYSE:ETM) for 109,877 shares. Deutsche Bank & Trust Ag accumulated 24,230 shares or 0% of the stock. Venator Cap Mngmt Ltd has 2.01 million shares for 22.96% of their US portfolio. Pnc Finance Gru has invested 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Oxford Asset Management, a United Kingdom-based fund reported 68,579 shares. The New York-based Millennium Management Limited has invested 0% in Entercom Communications Corp. (NYSE:ETM). Fifth Third Bank has 0% invested in the company for 2,078 shares. Moreover, Bridgeway Cap Mgmt Inc has 0.07% invested in Entercom Communications Corp. (NYSE:ETM) for 342,630 shares. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 1,471 shares in the company. The Switzerland-based Credit Suisse Ag has invested 0% in Entercom Communications Corp. (NYSE:ETM).

Insider Transactions: Since November 15, 2016, the stock had 0 insider buys, and 1 insider sale for $106,974 net activity. SUTOR ANDREW P IV sold $106,974 worth of stock or 7,500 shares.

More notable recent Entercom Communications Corp. (NYSE:ETM) news were published by: Quotes.Wsj.com which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011, also Businesswire.com with their article: “Entercom Communications Corp. Announces Bank Meeting and Proposed Debt Refinancing” published on October 17, 2016, Streetinsider.com published: “Entercom Communications (ETM) CFO to Step Down” on November 14, 2016. More interesting news about Entercom Communications Corp. (NYSE:ETM) were released by: Moodys.com and their article: “Moody’s upgrades Entercom Communications to B1 from B2; outlook remains stable” published on May 11, 2016 as well as Blogs.Wsj.com‘s news article titled: “CFO Moves: Neiman Marcus, Alarm.com, Entercom Communications, Lego” with publication date: November 15, 2016.

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.

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