Entercom slides 24% after downgrade to ‘sell’

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Entercom Communications Corp. (NYSE:ETM) is down more than 24% today after being downgraded to “sell” from “hold” by a Citigroup analyst. The Bala Cynwyd, Pa.-based radio broadcasting company has experienced a decrease in its advertising sales, leading to lower revenues. The stock is down more than 62% since January.

In today’s trading, shares of Entercom are at $5.07, down $1.65 from Wednesday’s close. The stock reached a 52-week low of $5.13 earlier in the trading day. Shares have ranged from today’s low of $5.13 to $25.71 during the past year.

For detailed price information and recent news stories on Entercom Communications Corp., click ETM.