Entercom Communications (ETM) Shareholder Aristeia Capital Decreased Stake as Share Price Declined; Luxor Capital Group LP Has Trimmed Grubhub (GRUB) Position by $28.26 Million

February 15, 2018 - By Clifton Ray

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 $1.45B market cap company. The stock increased 0.24% or $0.025 during the last trading session, reaching $10.325. About 1.89 million shares traded. Entercom Communications Corp. (NYSE:ETM) has declined 15.65% since February 15, 2017 and is downtrending. It has underperformed by 32.35% the S&P500.

Christian Leone decreased its stake in Grubhub Inc (GRUB) by 18.19% based on its latest 2017Q3 regulatory filing with the SEC. Luxor Capital Group Lp sold 543,498 shares as the company’s stock rose 15.35% with the market. The hedge fund run by Christian Leone held 2.44M shares of the business services company at the end of 2017Q3, valued at $128.68M, down from 2.99M at the end of the previous reported quarter. Luxor Capital Group Lp who had been investing in Grubhub Inc for a number of months, seems to be less bullish one the $8.04B market cap company. The stock decreased 1.03% or $0.9631 during the last trading session, reaching $92.4269. About 1.03 million shares traded. GrubHub Inc. (NYSE:GRUB) has risen 94.22% since February 15, 2017 and is uptrending. It has outperformed by 77.52% the S&P500.

Investors sentiment increased to 1.5 in Q3 2017. Its up 0.35, from 1.15 in 2017Q2. It is positive, 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. Ameriprise has invested 0% in Entercom Communications Corp. (NYSE:ETM). Qs Invsts Limited Liability Com stated it has 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Ameritas Inv Partners invested 0% in Entercom Communications Corp. (NYSE:ETM). 80,895 are owned by Rmb Cap Lc. Rhumbline Advisers holds 34,908 shares. Lsv Asset stated it has 293,319 shares or 0.01% of all its holdings. Alliancebernstein L P, a New York-based fund reported 19,400 shares. 569,343 are owned by Phocas Fincl. Northern Corp owns 1.48M shares or 0% of their US portfolio. Barclays Plc reported 111,245 shares. Morgan Stanley owns 122,971 shares for 0% of their portfolio. Alpine Woods Cap stated it has 0.04% of its portfolio in Entercom Communications Corp. (NYSE:ETM). Great West Life Assurance Comm Can holds 0% in Entercom Communications Corp. (NYSE:ETM) or 1,032 shares. National Bank & Trust Of Mellon stated it has 322,408 shares. Incorporated reported 0% of its portfolio in Entercom Communications Corp. (NYSE:ETM).

Analysts await Entercom Communications Corp. (NYSE:ETM) to report earnings on February, 28. They expect $0.34 EPS, up 6.25% or $0.02 from last year’s $0.32 per share. ETM’s profit will be $47.72M for 7.59 P/E if the $0.34 EPS becomes a reality. After $0.24 actual EPS reported by Entercom Communications Corp. for the previous quarter, Wall Street now forecasts 41.67% EPS growth.

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. Stephens initiated Entercom Communications Corp. (NYSE:ETM) rating on Friday, December 11. Stephens has “Equal-Weight” rating and $12 target. The rating was maintained by Noble Financial on Monday, November 27 with “Buy”. The stock of Entercom Communications Corp. (NYSE:ETM) has “Buy” rating given on Monday, July 31 by Noble Financial. The rating was maintained by Noble Financial with “Buy” on Monday, July 24. The rating was upgraded by Wells Fargo on Tuesday, August 18 to “Outperform”.

Aristeia Capital Llc, which manages about $6.79B and $2.56 billion US Long portfolio, upped its stake in Hostess Brands Inc by 879,302 shares to 6.30 million shares, valued at $12.86 million in 2017Q3, according to the filing. It also increased its holding in Servicenow Inc (Prn) by 12.37 million shares in the quarter, for a total of 55.53 million shares, and has risen its stake in Ctrip Com Intl Ltd (Prn).

Luxor Capital Group Lp, which manages about $10.73 billion and $1.70 billion US Long portfolio, upped its stake in Iac Interactivecorp (NASDAQ:IACI) by 865,045 shares to 1.16M shares, valued at $135.99 million in 2017Q3, according to the filing. It also increased its holding in Amazon Com Inc (NASDAQ:AMZN) by 9,416 shares in the quarter, for a total of 49,665 shares, and has risen its stake in Mindbody Inc.

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