Entravision Communications (NYSE:EVC) Shares Up 7.2% – Here’s What Happened

Entravision Communications Corporation (NYSE:EVC)’s stock price shot up 7.2% on Thursday . The stock traded as high as $8.79 and last traded at $8.7990. 480,159 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 1,236,059 shares. The stock had previously closed at $8.21.

Wall Street Analyst Weigh In

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

Entravision Communications Trading Up 2.1%

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 firm has a market cap of $892.20 million, a price-to-earnings ratio of -44.10 and a beta of 1.36. The firm’s 50-day moving average is $4.59 and its 200-day moving average is $3.55.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Entravision Communications’s payout ratio is currently -90.91%.

Insider Transactions at Entravision Communications

In other Entravision Communications news, major shareholder Alexandra Seros sold 685,111 shares of Entravision Communications stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $8.71, for a total transaction of $5,967,316.81. Following the transaction, the insider directly owned 8,974,750 shares of the company’s stock, valued at $78,170,072.50. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 4,497,004 shares of company stock worth $35,936,071. 8.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Entravision Communications

A number of hedge funds have recently bought and sold shares of EVC. Empowered Funds LLC boosted its holdings in shares of Entravision Communications by 24.8% in the 1st quarter. Empowered Funds LLC now owns 568,569 shares of the company’s stock worth $1,689,000 after buying an additional 113,013 shares during the last quarter. Rangeley Capital LLC boosted its holdings in shares of Entravision Communications by 11.1% in the 1st quarter. Rangeley Capital LLC now owns 100,000 shares of the company’s stock worth $297,000 after buying an additional 10,000 shares during the last quarter. Teton Advisors LLC boosted its holdings in shares of Entravision Communications by 23.1% in the 1st quarter. Teton Advisors LLC now owns 80,000 shares of the company’s stock worth $238,000 after buying an additional 15,000 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Entravision Communications by 7.2% in the 1st quarter. Gabelli Funds LLC now owns 239,000 shares of the company’s stock worth $710,000 after buying an additional 16,000 shares during the last quarter. Finally, IMC Chicago LLC purchased a new position in shares of Entravision Communications in the 1st quarter worth about $30,000. 69.46% of the stock is owned by hedge funds and other 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.