Entravision Communications (NYSE:EVC) Trading Down 9.1% on Insider Selling

Entravision Communications Corporation (NYSE:EVC) shares were down 9.1% during mid-day trading on Friday following insider selling activity. The stock traded as low as $8.04 and last traded at $8.0360. Approximately 741,461 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,140,929 shares. The stock had previously closed at $8.84.

Specifically, major shareholder Alexandra Seros sold 338,976 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $9.03, for a total transaction of $3,060,953.28. Following the completion of the sale, the insider owned 8,635,774 shares of the company’s stock, valued at approximately $77,981,039.22. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alexandra Seros sold 685,111 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $8.71, for a total value of $5,967,316.81. Following the completion of the sale, the insider directly owned 8,974,750 shares of the company’s stock, valued at approximately $78,170,072.50. This represents a 7.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Entravision Communications news, major shareholder Alexandra Seros sold 160,282 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $8.33, for a total transaction of $1,335,149.06. Following the completion of the sale, the insider owned 9,659,861 shares in the company, valued at $80,466,642.13. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Entravision Communications Trading Down 10.4%

The stock has a market capitalization of $728.14 million, a price-to-earnings ratio of -36.15 and a beta of 1.36. 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 has a fifty day moving average of $3.94 and a 200-day moving average of $3.28.

Entravision Communications (NYSE:EVC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $196.97 million for 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.5%. Entravision Communications’s dividend payout ratio (DPR) is currently -90.91%.

Institutional Trading of Entravision Communications

Several institutional investors and hedge funds have recently bought and sold shares of EVC. MetLife Investment Management LLC boosted its holdings in shares of Entravision Communications by 35.7% in the first quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock worth $56,000 after buying an additional 6,991 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Entravision Communications in the 1st quarter valued at approximately $28,000. Goldman Sachs Group Inc. lifted its position in shares of Entravision Communications by 14.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 595,685 shares of the company’s stock valued at $1,251,000 after acquiring an additional 73,103 shares in the last quarter. Empowered Funds LLC boosted its stake in Entravision Communications by 7.4% in the 1st quarter. Empowered Funds LLC now owns 470,465 shares of the company’s stock worth $988,000 after purchasing an additional 32,321 shares during the period. Finally, Jane Street Group LLC boosted its stake in Entravision Communications by 146.2% in the 1st quarter. Jane Street Group LLC now owns 38,070 shares of the company’s stock worth $80,000 after purchasing an additional 22,606 shares during the period. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.