Entravision Communications Corporation (NYSE:EVC) Sees Significant Increase in Short Interest

Entravision Communications Corporation (NYSE:EVC) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 4,416,873 shares, an increase of 76.1% from the May 14th total of 2,508,368 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 3,300,382 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Entravision Communications news, major shareholder Alexandra Seros sold 685,111 shares of Entravision Communications stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $8.71, for a total value of $5,967,316.81. Following the completion of the transaction, the insider directly owned 8,974,750 shares in the company, valued at $78,170,072.50. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 4,497,004 shares of company stock valued at $35,936,071 in the last three months. Insiders own 8.34% of the company’s stock.

Hedge Funds Weigh In On Entravision Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC raised its holdings in Entravision Communications by 265.0% during the third quarter. Segall Bryant & Hamill LLC now owns 572,089 shares of the company’s stock worth $1,333,000 after purchasing an additional 415,348 shares in the last quarter. R Squared Ltd raised its holdings in Entravision Communications by 40.6% during the third quarter. R Squared Ltd now owns 26,963 shares of the company’s stock worth $63,000 after purchasing an additional 7,784 shares in the last quarter. Rangeley Capital LLC raised its holdings in Entravision Communications by 11.1% during the first quarter. Rangeley Capital LLC now owns 100,000 shares of the company’s stock worth $297,000 after purchasing an additional 10,000 shares in the last quarter. Teton Advisors LLC raised its holdings in Entravision Communications by 23.1% during the first quarter. Teton Advisors LLC now owns 80,000 shares of the company’s stock worth $238,000 after purchasing an additional 15,000 shares in the last quarter. Finally, IMC Chicago LLC bought a new stake in Entravision Communications during the first quarter worth approximately $30,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Entravision Communications Stock Performance

Shares of NYSE EVC traded down $0.47 during midday trading on Monday, hitting $9.20. 2,496,443 shares of the company’s stock were exchanged, compared to its average volume of 1,434,939. 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 stock’s 50 day moving average price is $6.44 and its 200-day moving average price is $4.24. The firm has a market cap of $845.60 million, a P/E ratio of -41.80 and a beta of 1.81. Entravision Communications has a twelve month low of $1.95 and a twelve month high of $10.12.

Entravision Communications (NYSE:EVC) last issued its quarterly earnings data 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 business had revenue of $196.97 million during the quarter, compared to the consensus estimate of $121.49 million. Entravision Communications had a negative return on equity of 25.31% and a negative net margin of 3.41%.

Entravision Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Entravision Communications’s payout ratio is currently -90.91%.

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.