Entravision Communications (NYSE:EVC) Stock Price Down 6.2% – Here’s What Happened

Entravision Communications Corporation (NYSE:EVC)’s stock price traded down 6.2% during mid-day trading on Monday . The stock traded as low as $10.70 and last traded at $11.0350. Approximately 569,596 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,510,267 shares. The stock had previously closed at $11.76.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Entravision Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Entravision Communications in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Entravision Communications Price Performance

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -52.63 and a beta of 1.69. 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 business’s fifty day moving average price is $9.95 and its 200-day moving average price is $5.55.

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

Entravision Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.7%. Entravision Communications’s dividend payout ratio is -90.91%.

Insiders Place Their Bets

In other Entravision Communications news, major shareholder Alexandra Seros sold 427,991 shares of the stock in a transaction dated 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 owned 6,823,139 shares in the company, valued at approximately $62,568,184.63. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul A. Zevnik sold 324,686 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,107,582 shares of the company’s stock, valued at $20,380,317.94. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,821,690 shares of company stock valued at $39,075,784 over the last three months. 8.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Entravision Communications

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in Entravision Communications by 59.5% in 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 during the period. Squarepoint Ops LLC bought a new stake in Entravision Communications in the fourth quarter worth about $521,000. Empowered Funds LLC boosted its position in shares of Entravision Communications by 24.8% during the first quarter. Empowered Funds LLC now owns 568,569 shares of the company’s stock valued at $1,689,000 after buying an additional 113,013 shares during the period. Walleye Capital LLC bought a new position in shares of Entravision Communications during the fourth quarter valued at approximately $311,000. Finally, Corsair Capital Management L.P. grew its stake in shares of Entravision Communications by 68.5% during the fourth 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 during the last quarter. Institutional investors own 69.46% of the company’s stock.

About Entravision Communications

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.