There’s nothing like boosting investor confidence than a hefty purchase of the company’s stock by a C-Suite chief.
And, it seems a big purchase of Entercom Communications shares over the last few sessions by its President/CEO is exciting stockholders, as ETM was up 10% in midday trading from Tuesday’s close.
By the end of trading, the gain was bit more tempered, as shared ended up at $1.3850 for a modest 2.6% rise.
According to Seeking Alpha, Field purchased just over 248,000 shares in purchases made this week by the audio media company’s chief executive.
Specifically, Field bought 96,754 shares Friday at an average price of $1.4513, another 93,131 shares Monday at $1.4296, and another 58,186 shares Tuesday at $1.367.
The moves, Seeking Alpha notes, result in Field holding direct beneficial ownership of 1,481,195 shares, and another 1,460,448 shares in a trust.