Entravision Communications Corporation (EVC) Shares Sold by American Century Companies Inc.
American Century Companies Inc. cut its position in Entravision Communications Corporation (NYSE:EVC) by 18.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,977,245 shares of the company’s stock after selling 1,095,041 shares during the period. American Century Companies Inc. owned about 7.53% of Entravision Communications Corporation worth $32,850,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Oxford Asset Management bought a new stake in shares of Entravision Communications Corporation during the first quarter worth approximately $1,041,000. Trexquant Investment LP raised its stake in shares of Entravision Communications Corporation by 151.6% in the first quarter. Trexquant Investment LP now owns 31,072 shares of the company’s stock worth $193,000 after buying an additional 18,720 shares in the last quarter. TFS Capital LLC bought a new stake in shares of Entravision Communications Corporation during the first quarter worth approximately $313,000. Engineers Gate Manager LP bought a new stake in shares of Entravision Communications Corporation during the first quarter worth approximately $180,000. Finally, Parkwood LLC bought a new stake in shares of Entravision Communications Corporation during the first quarter worth approximately $170,000. Hedge funds and other institutional investors own 58.30% of the company’s stock.
Shares of Entravision Communications Corporation (NYSE:EVC) opened at 5.65 on Thursday. The company’s 50-day moving average is $6.24 and its 200 day moving average is $6.05. The company has a market capitalization of $510.86 million, a price-to-earnings ratio of 28.25 and a beta of 1.50. Entravision Communications Corporation has a 12 month low of $4.90 and a 12 month high of $7.89.
Entravision Communications Corporation (NYSE:EVC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.01. Entravision Communications Corporation had a return on equity of 10.05% and a net margin of 7.03%. The business had revenue of $70.51 million for the quarter, compared to analyst estimates of $67.59 million. During the same period in the prior year, the company earned $0.06 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Entravision Communications Corporation will post $0.15 earnings per share for the current year.
Entravision Communications Corporation declared that its Board of Directors has authorized a share buyback program on Wednesday, August 2nd that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, September 13th. This is a positive change from Entravision Communications Corporation’s previous quarterly dividend of $0.03. Entravision Communications Corporation’s dividend payout ratio is currently 61.90%.
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A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Entravision Communications Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Macquarie reiterated a “hold” rating and issued a $7.00 price target on shares of Entravision Communications Corporation in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Entravision Communications Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Noble Financial reiterated a “buy” rating on shares of Entravision Communications Corporation in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $7.00.
In related news, CRO Mario M. Carrera sold 70,702 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $5.63, for a total transaction of $398,052.26. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Christopher T. Young sold 14,616 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $5.55, for a total value of $81,118.80. The disclosure for this sale can be found here. Corporate insiders own 20.72% of the company’s stock.
Entravision Communications Corporation Company Profile
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.
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