As Entercom Communications Corp (ETM) Share Value Declined, Aristeia Capital LLC Decreased Position

January 10, 2018 - By Nellie Frank

Investors sentiment increased to 1.5 in Q3 2017. Its up 0.35, from 1.15 in 2017Q2. It increased, as 15 investors sold ETM shares while 23 reduced holdings. 25 funds opened positions while 32 raised stakes. 25.83 million shares or 18.66% more from 21.77 million shares in 2017Q2 were reported. Cheyne Cap Management (Uk) Ltd Liability Partnership owns 4,305 shares. Alpine Glob Limited Liability Com reported 52,500 shares. Euclidean Tech Mngmt Ltd Co reported 0.88% stake. Evercore Wealth Management Lc holds 0% or 6,000 shares. Denali Advisors Limited Liability Corp invested 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Credit Suisse Ag holds 0% or 30,197 shares. 1,000 are owned by Next Financial Inc. Rhumbline Advisers reported 34,908 shares or 0% of all its holdings. Gsa Capital Prtnrs Ltd Liability Partnership reported 0.04% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Bancorporation Of Mellon has 0% invested in Entercom Communications Corp. (NYSE:ETM) for 322,408 shares. Gabelli Funds Limited reported 0.01% stake. 2,183 were reported by Ameritas Invest Prtn. Switzerland-based Swiss Comml Bank has invested 0% in Entercom Communications Corp. (NYSE:ETM). Millennium Management Llc has invested 0% in Entercom Communications Corp. (NYSE:ETM). Mycio Wealth Ptnrs holds 40,000 shares.

Robert Henry Lynch decreased its stake in Entercom Communications Corp (ETM) by 80.12% based on its latest 2017Q3 regulatory filing with the SEC. Aristeia Capital Llc sold 1.00 million shares as the company’s stock declined 37.42% while stock markets rallied. The hedge fund run by Robert Henry Lynch held 248,546 shares of the broadcasting company at the end of 2017Q3, valued at $2.85 million, down from 1.25M at the end of the previous reported quarter. Aristeia Capital Llc who had been investing in Entercom Communications Corp for a number of months, seems to be less bullish one the $1.53 billion market cap company. The stock increased 0.23% or $0.025 during the last trading session, reaching $10.925. About 1.09 million shares traded. Entercom Communications Corp. (NYSE:ETM) has declined 15.65% since January 10, 2017 and is downtrending. It has underperformed by 32.35% the S&P500.

Aristeia Capital Llc, which manages about $6.79 billion and $2.56 billion US Long portfolio, upped its stake in Ctrip Com Intl Ltd (Prn) by 9.50M shares to 89.50M shares, valued at $123.80 million in 2017Q3, according to the filing. It also increased its holding in Servicenow Inc (Prn) by 12.37M shares in the quarter, for a total of 55.53 million shares, and has risen its stake in Herbalife Ltd (NYSE:HLF).

Analysts await Entercom Communications Corp. (NYSE:ETM) to report earnings on February, 28. They expect $0.34 earnings per share, up 6.25 % or $0.02 from last year’s $0.32 per share. ETM’s profit will be $47.71M for 8.03 P/E if the $0.34 EPS becomes a reality. After $0.24 actual earnings per share reported by Entercom Communications Corp. for the previous quarter, Wall Street now forecasts 41.67 % EPS growth.

Entercom Communications Corp. (NYSE:ETM) Ratings Coverage

Among 3 analysts covering Entercom Communications (NYSE:ETM), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Entercom Communications had 5 analyst reports since August 18, 2015 according to SRatingsIntel. The rating was maintained by Noble Financial with “Buy” on Monday, July 31. As per Tuesday, August 18, the company rating was upgraded by Wells Fargo. Noble Financial maintained the stock with “Buy” rating in Monday, July 24 report. The rating was initiated by Stephens on Friday, December 11 with “Equal-Weight”. Noble Financial maintained Entercom Communications Corp. (NYSE:ETM) on Monday, November 27 with “Buy” rating.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.