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

Entravision Communications Corporation (NYSE:EVC)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $10.24 and last traded at $10.2090, with a volume of 856225 shares changing hands. The stock had previously closed at $9.87.

Analysts Set New Price Targets

EVC has been the subject of several analyst reports. Wall Street Zen raised shares of Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed 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.com, the stock has an average rating of “Sell”.

Entravision Communications Price Performance

The firm has a fifty day moving average of $7.21 and a 200 day moving average of $4.53. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $942.50 million, a P/E ratio of -46.57 and a beta of 1.79.

Entravision Communications (NYSE:EVC) last posted its earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $196.97 million for the quarter, compared to analysts’ expectations 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 2.0%. Entravision Communications’s dividend payout ratio (DPR) is currently -90.91%.

Insider Buying and Selling

In other Entravision Communications news, major shareholder Alexandra Seros sold 427,991 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $9.17, for a total transaction of $3,924,677.47. Following the completion of the sale, the insider directly owned 6,823,139 shares in the company, valued at approximately $62,568,184.63. The trade was a 5.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul A. Zevnik sold 324,686 shares of the 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 transaction, the director directly owned 2,107,582 shares in the company, 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. In the last ninety days, insiders 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

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