Entercom Communications (ETM) Holder Aristeia Capital Trimmed Position by $11.02 Million as Stock Declined; Encompass Capital Advisors Lifted Its Position in Ring Energy (REI) by $7.27 Million as Shares Rose

February 22, 2018 - By Lawrence Diaz

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 $1.43 billion market cap company. The stock decreased 0.49% or $0.05 during the last trading session, reaching $10.15. About 799,254 shares traded. Entercom Communications Corp. (NYSE:ETM) has declined 15.65% since February 22, 2017 and is downtrending. It has underperformed by 32.35% the S&P500.

Todd J. Kantor increased its stake in Ring Energy Inc (REI) by 24.35% based on its latest 2017Q3 regulatory filing with the SEC. Encompass Capital Advisors Llc bought 519,180 shares as the company’s stock rose 10.65% with the market. The hedge fund run by Todd J. Kantor held 2.65 million shares of the energy company at the end of 2017Q3, valued at $38.42M, up from 2.13 million at the end of the previous reported quarter. Encompass Capital Advisors Llc who had been investing in Ring Energy Inc for a number of months, seems to be bullish on the $808.07M market cap company. The stock decreased 4.30% or $0.67 during the last trading session, reaching $14.92. About 661,905 shares traded or 1.88% up from the average. Ring Energy, Inc. (NYSEMKT:REI) has risen 83.06% since February 22, 2017 and is uptrending. It has outperformed by 66.36% the S&P500.

Investors sentiment increased to 1.5 in Q3 2017. Its up 0.35, from 1.15 in 2017Q2. It improved, 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. Wilen Invest Mngmt reported 0.21% of its portfolio in Entercom Communications Corp. (NYSE:ETM). State Of New Jersey Common Pension Fund D reported 0.01% stake. Bnp Paribas Arbitrage holds 0% in Entercom Communications Corp. (NYSE:ETM) or 31,757 shares. Vanguard Grp Inc invested 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Parametric Portfolio Associate Limited Liability Company has invested 0% in Entercom Communications Corp. (NYSE:ETM). Alpine Woods Cap Investors Llc accumulated 65,000 shares. Cheyne Cap Management (Uk) Llp has invested 0.41% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Nationwide Fund Advisors stated it has 23,041 shares or 0% of all its holdings. Hotchkis And Wiley Ltd Limited Liability Company invested in 0% or 16,286 shares. Fuller & Thaler Asset Mngmt accumulated 271,600 shares. Moreover, State Street has 0% invested in Entercom Communications Corp. (NYSE:ETM). Goldman Sachs Grp Inc Inc reported 0% stake. Balyasny Asset holds 160,000 shares or 0.01% of its portfolio. American Grp Inc, New York-based fund reported 18,776 shares. 248,546 were reported by Aristeia Cap Ltd Liability Corporation.

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. Noble Financial maintained the shares of ETM in report on Monday, July 24 with “Buy” rating. The rating was initiated by Stephens with “Equal-Weight” on Friday, December 11. The company was maintained on Monday, July 31 by Noble Financial. The rating was maintained by Noble Financial on Monday, November 27 with “Buy”. Wells Fargo upgraded Entercom Communications Corp. (NYSE:ETM) on Tuesday, August 18 to “Outperform” rating.

Analysts await Entercom Communications Corp. (NYSE:ETM) to report earnings on February, 28. They expect $0.32 EPS, 0.00% or $0.00 from last year’s $0.32 per share. ETM’s profit will be $44.93 million for 7.93 P/E if the $0.32 EPS becomes a reality. After $0.24 actual EPS reported by Entercom Communications Corp. for the previous quarter, Wall Street now forecasts 33.33% EPS growth.

Aristeia Capital Llc, which manages about $6.79B and $2.56B US Long portfolio, upped its stake in Zions Bancorporation (NASDAQ:ZIONW) by 27,100 shares to 2.24M shares, valued at $33.96 million in 2017Q3, according to the filing. It also increased its holding in Iac Interactivecorp (NASDAQ:IACI) by 307,518 shares in the quarter, for a total of 951,968 shares, and has risen its stake in Mercadolibre Inc (Prn).

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