Entravision Communications Corporation $EVC Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in Entravision Communications Corporation (NYSE:EVC) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220,556 shares of the company’s stock after selling 53,294 shares during the period. Renaissance Technologies LLC’s holdings in Entravision Communications were worth $6,595,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Entravision Communications by 59.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 775,566 shares of the company’s stock worth $2,272,000 after purchasing an additional 289,451 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Entravision Communications during the 4th quarter worth approximately $521,000. Walleye Capital LLC purchased a new stake in Entravision Communications in the 4th quarter valued at approximately $311,000. Corsair Capital Management L.P. lifted its stake in Entravision Communications by 68.5% in the 4th quarter. Corsair Capital Management L.P. now owns 221,504 shares of the company’s stock valued at $649,000 after buying an additional 90,023 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Entravision Communications by 344.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 96,957 shares of the company’s stock valued at $226,000 after buying an additional 75,143 shares during the last quarter. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EVC has been the subject of several recent research reports. Wall Street Zen raised Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Insider Activity at Entravision Communications

In other Entravision Communications news, major shareholder Alexandra Seros sold 427,991 shares of Entravision Communications stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $9.17, for a total value of $3,924,677.47. Following the completion of the sale, the insider directly owned 6,823,139 shares of the company’s stock, valued at approximately $62,568,184.63. The trade was a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul A. Zevnik sold 324,686 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.67, for a total value of $3,139,713.62. Following the completion of the transaction, the director owned 2,107,582 shares of the company’s stock, valued at $20,380,317.94. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,821,690 shares of company stock valued at $39,075,784 over the last ninety days. 9.12% of the stock is owned by corporate insiders.

Entravision Communications Stock Performance

Shares of NYSE EVC opened at $11.66 on Wednesday. The company has a market cap of $1.07 billion, a PE ratio of -52.98 and a beta of 1.72. Entravision Communications Corporation has a 12 month low of $1.95 and a 12 month high of $13.74. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $6.38.

Entravision Communications (NYSE:EVC) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The business had revenue of $196.97 million during the quarter, compared to analyst estimates of $121.49 million. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%.

Entravision Communications Company Profile

Entravision Communications Corporation (NYSE: EVC) is a diversified Spanish-language media and advertising company headquartered in Santa Monica, California. The company develops and distributes multimedia content tailored to Hispanic audiences across the United States, leveraging a combination of traditional broadcasting and digital platforms to reach consumers and marketers seeking to engage this fast-growing demographic.

In its broadcasting segment, Entravision owns and operates more than 50 television stations affiliated primarily with leading Spanish-language networks, as well as over 40 radio stations in key U.S.