By Peter Gleason
These may be the final days of the 30-year-old sports talk radio boom.
And the financial performance of Entercom Communications Corp., the Philly-based owner of woeful WIP, is a canary in the coal mine.
Its share price fell 10% during trading on Tuesday after the company announced weaker than expected earnings.
Several institutional investors and hedge funds have recently modified their holdings of the company. period. 85.75% of the stock is owned by institutional investors and hedge funds.
The company has a market capitalization of $1.08 billion, a P/E ratio of -15.22 and a beta of 0.97. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.12.
Entercom Communications Corp. operates as a radio broadcasting company in the United States and acquired the overrated CBS Radio last year.
The company owns and operates radio stations in various formats, such as news, sports, talk, classic rock, urban, adult contemporary, alternative, country, and others. As of February 20, 2018, it had a portfolio of approximately 235 radio stations, digital platforms, and live events.