Short Interest in Entravision Communications Co. (NYSE:EVC) Rises By 28.4%

Entravision Communications Co. (NYSE:EVC) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,400,000 shares, an increase of 28.4% from the August 15th total of 1,090,000 shares. Based on an average daily trading volume, of 842,800 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.4% of the shares of the company are short sold.

In related news, Director Paul A. Zevnik sold 68,938 shares of the stock in a transaction on Monday, June 28th. The stock was sold at an average price of $6.46, for a total transaction of $445,339.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Liberman A. Jeffery sold 6,956 shares of the stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $6.77, for a total value of $47,092.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 300,065 shares of company stock valued at $1,822,340. 24.30% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in Entravision Communications in the 2nd quarter worth about $631,000. Morgan Stanley grew its stake in shares of Entravision Communications by 149.6% in the second quarter. Morgan Stanley now owns 261,086 shares of the company’s stock worth $1,744,000 after acquiring an additional 156,487 shares during the period. Invesco Ltd. grew its stake in shares of Entravision Communications by 332.4% in the second quarter. Invesco Ltd. now owns 459,147 shares of the company’s stock worth $3,068,000 after acquiring an additional 352,969 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in Entravision Communications during the second quarter valued at approximately $118,000. Finally, MetLife Investment Management LLC bought a new stake in Entravision Communications during the second quarter valued at approximately $154,000. Institutional investors and hedge funds own 54.37% of the company’s stock.

Several research analysts have recently commented on the company. TheStreet upgraded Entravision Communications from a “c” rating to a “b-” rating in a research report on Friday, August 6th. Zacks Investment Research downgraded Entravision Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 17th. Finally, Noble Financial reissued a “buy” rating and issued a $10.00 price objective on shares of Entravision Communications in a research note on Wednesday, September 1st.

EVC stock opened at $6.91 on Wednesday. Entravision Communications has a 1-year low of $1.25 and a 1-year high of $8.11. The firm has a market cap of $589.84 million, a P/E ratio of 13.82 and a beta of 0.70. The business’s 50 day moving average is $6.72 and its 200-day moving average is $5.35. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.73.

Entravision Communications (NYSE:EVC) last posted its quarterly earnings data on Thursday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm had revenue of $178.41 million for the quarter, compared to the consensus estimate of $163.10 million. Entravision Communications had a return on equity of 15.56% and a net margin of 7.59%. Sell-side analysts forecast that Entravision Communications will post 0.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.10 dividend on an annualized basis and a yield of 1.45%. Entravision Communications’s dividend payout ratio (DPR) is 23.26%.

Entravision Communications Company Profile

Entravision Communications Corp. engages in the provision of media and marketing solutions, and data analytics services. It operates through the following segments: Television Broadcasting, Radio Broadcasting, and Digital Media. The Television Broadcasting segment offers an entertainment, news, and national news magazine, as well as local news produced by its TV stations.

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