Entravision Communications (NYSE:EVC) Hits New 52-Week High – Here’s What Happened

Entravision Communications Corporation (NYSE:EVC) shares reached a new 52-week high on Monday . The stock traded as high as $13.74 and last traded at $13.3140, with a volume of 661349 shares traded. The stock had previously closed at $13.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EVC shares. Wall Street Zen upgraded shares of 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Entravision Communications Stock Up 0.9%

The firm has a 50 day moving average price of $8.82 and a 200-day moving average price of $5.12. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -59.84 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.

Entravision Communications (NYSE:EVC) last announced 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. Entravision Communications’s payout ratio is currently -90.91%.

Insider Buying and Selling

In other Entravision Communications news, Director Paul A. Zevnik sold 324,686 shares of Entravision Communications stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.67, for a total transaction of $3,139,713.62. Following the completion of the sale, the director owned 2,107,582 shares of the company’s stock, valued at approximately $20,380,317.94. The trade was a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alexandra Seros sold 427,991 shares of Entravision Communications stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $9.17, for a total transaction of $3,924,677.47. Following the sale, the insider directly owned 6,823,139 shares of the company’s stock, valued at $62,568,184.63. This represents a 5.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,821,690 shares of company stock valued at $39,075,784. 8.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC increased its holdings in Entravision Communications by 3.7% in the third quarter. Bridgeway Capital Management LLC now owns 998,610 shares of the company’s stock valued at $2,327,000 after purchasing an additional 35,391 shares during the last quarter. State Street Corp boosted its holdings in Entravision Communications by 0.7% during the fourth quarter. State Street Corp now owns 1,413,637 shares of the company’s stock worth $4,142,000 after buying an additional 9,597 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Entravision Communications by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,336,040 shares of the company’s stock worth $7,773,000 after buying an additional 36,503 shares during the last quarter. Empowered Funds LLC grew its position in shares of Entravision Communications by 7.4% during the 1st quarter. Empowered Funds LLC now owns 470,465 shares of the company’s stock worth $988,000 after buying an additional 32,321 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of Entravision Communications by 344.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 96,957 shares of the company’s stock worth $226,000 after buying an additional 75,143 shares during the period. 69.46% of the stock is currently owned by institutional investors.

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.