Entravision Communications (NYSE:EVC) Stock Price Down 7.5% – Here’s What Happened

Entravision Communications Corporation (NYSE:EVC) shares traded down 7.5% during trading on Tuesday. The company traded as low as $6.76 and last traded at $6.5860. 906,719 shares traded hands during trading, a decline of 39% from the average session volume of 1,498,041 shares. The stock had previously closed at $7.12.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Entravision Communications from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Entravision Communications Stock Down 8.3%

The firm has a market cap of $602.65 million, a PE ratio of 653.15 and a beta of 1.72. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average price of $8.79 and a two-hundred day moving average price of $8.05.

Entravision Communications (NYSE:EVC) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. Entravision Communications had a return on equity of 6.98% and a net margin of 0.62%.The business had revenue of $227.90 million during the quarter, compared to analysts’ expectations of $121.49 million.

Entravision Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. Entravision Communications’s dividend payout ratio (DPR) is presently 2,000.00%.

Insider Buying and Selling at Entravision Communications

In other Entravision Communications news, Director Paul Zevnik sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $8.40, for a total value of $294,000.00. Following the completion of the transaction, the director owned 36,100 shares of the company’s stock, valued at $303,240. This represents a 49.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.12% of the company’s stock.

Institutional Trading of Entravision Communications

Several institutional investors have recently bought and sold shares of the stock. IMC Chicago LLC bought a new position in Entravision Communications during the 1st quarter valued at about $30,000. Flower City Capital bought a new position in shares of Entravision Communications in the second quarter valued at approximately $137,000. 3Chopt Investment Partners LLC acquired a new position in shares of Entravision Communications in the 1st quarter worth approximately $46,000. Teton Advisors LLC grew its position in Entravision Communications by 23.1% during the 1st quarter. Teton Advisors LLC now owns 80,000 shares of the company’s stock worth $238,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Rangeley Capital LLC increased its holdings in Entravision Communications by 11.1% during the 1st quarter. Rangeley Capital LLC now owns 100,000 shares of the company’s stock valued at $297,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

About Entravision Communications

Entravision Communications Corporation (NYSE:EVC) is a global advertising, media and technology company headquartered in Santa Monica, California. The company operates digital advertising solutions, audio and television media businesses, and provides marketing services to brands and agencies.

Entravision’s digital operations help advertisers plan, purchase and measure campaigns across connected television, mobile, social, streaming audio and other digital channels. Its offerings include programmatic advertising, mobile marketing, influencer and creator campaigns, and audio advertising.