Entravision Communications (NYSE:EVC) Stock Price Down 4.9% – Here’s Why

Entravision Communications Corporation (NYSE:EVC) dropped 4.9% on Tuesday . The company traded as low as $9.23 and last traded at $9.36. Approximately 893,482 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 1,295,429 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

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

Entravision Communications Stock Down 10.8%

The firm’s 50-day simple moving average is $4.72 and its 200 day simple moving average is $3.61. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $807.41 million, a P/E ratio of -39.91 and a beta of 1.36.

Entravision Communications (NYSE:EVC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.13 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 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Entravision Communications’s dividend payout ratio is presently -90.91%.

Insider Activity

In other news, major shareholder Alexandra Seros sold 427,991 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $9.17, for a total value of $3,924,677.47. Following the sale, the insider directly owned 6,823,139 shares of the company’s stock, valued at approximately $62,568,184.63. This represents a 5.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 4,497,004 shares of company stock valued at $35,936,071. 8.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entravision Communications

A number of institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Entravision Communications by 86.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock valued at $29,000 after purchasing an additional 5,702 shares during the period. Rhumbline Advisers grew its stake in Entravision Communications by 7.1% in the 2nd quarter. Rhumbline Advisers now owns 91,341 shares of the company’s stock valued at $212,000 after buying an additional 6,063 shares during the last quarter. MetLife Investment Management LLC grew its stake in Entravision Communications by 35.7% in the 1st quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock valued at $56,000 after buying an additional 6,991 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Entravision Communications by 78.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,372 shares of the company’s stock valued at $40,000 after buying an additional 7,642 shares during the last quarter. Finally, R Squared Ltd grew its stake in Entravision Communications by 40.6% in the 3rd quarter. R Squared Ltd now owns 26,963 shares of the company’s stock valued at $63,000 after buying an additional 7,784 shares during the last quarter. 69.46% of the stock is 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.