Entravision Communication (EVC) Position Cut by Ceredex Value Advisors LLC
Ceredex Value Advisors LLC trimmed its holdings in Entravision Communication (NYSE:EVC) by 5.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,021,421 shares of the company’s stock after selling 162,229 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Entravision Communication were worth $14,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of EVC. Hartford Investment Management Co. bought a new position in Entravision Communication in the 2nd quarter worth approximately $142,000. MetLife Investment Advisors LLC boosted its stake in Entravision Communication by 266.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 32,143 shares of the company’s stock valued at $161,000 after purchasing an additional 23,369 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Entravision Communication by 41.6% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 56,800 shares of the company’s stock valued at $284,000 after purchasing an additional 16,700 shares in the last quarter. United Services Automobile Association boosted its stake in Entravision Communication by 16.8% during the 2nd quarter. United Services Automobile Association now owns 94,542 shares of the company’s stock valued at $473,000 after purchasing an additional 13,619 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in Entravision Communication during the 2nd quarter valued at $612,000. 62.20% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on EVC shares. Noble Financial set a $6.00 price target on Entravision Communication and gave the company a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised Entravision Communication from a “sell” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Wednesday, August 8th. Finally, ValuEngine raised Entravision Communication from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $5.75.
Entravision Communication (NYSE:EVC) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $74.60 million for the quarter, compared to the consensus estimate of $75.62 million. Entravision Communication had a net margin of 6.30% and a return on equity of 0.49%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 earnings per share. Equities research analysts forecast that Entravision Communication will post 0.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 14th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date is Thursday, December 13th. Entravision Communication’s payout ratio is currently 11.56%.
In other Entravision Communication news, CFO Christopher T. Young sold 50,374 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $5.45, for a total transaction of $274,538.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 20.99% of the company’s stock.
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Entravision Communication Company Profile
Entravision Communications Corporation operates as a media company that reaches and engages Hispanics across media channels and advertising platforms primarily in the United States, Spain, Mexico, Argentina, and other Latin America countries. The company operates through three segments: Television Broadcasting, Radio Broadcasting, and Digital Media.
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