On heavier than usual trading, Entercom shares dipped 4% on Monday, putting them nearly $1 below the company’s 1-year target estimate.
At the Closing Bell, ETM was priced at $7.26.
Volume was 1.39 million shares; average volume is 951,191 shares.
The fall comes after Entercom’s largely upbeat Q4 earnings release on Friday.
Entercom shares immediately fell in the 9am before attempting to stage a recovery before noon. The rally then ended, giving the company pressure anew to boost its stock price following a quarterly earnings release.
As RBR+TVBR reported Friday, Entercom’s Q4 results were largely positive, thanks to an impairment charge taken in response to the company’s stock decline during the period.