Entravision Communications Corporation (NYSE:EVC) Sees Large Growth in Short Interest

Entravision Communications Corporation (NYSE:EVC) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 4,416,873 shares, a growth of 76.1% from the May 14th total of 2,508,368 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average daily trading volume, of 3,300,382 shares, the days-to-cover ratio is presently 1.3 days.

Insider Activity

In other news, Director Paul A. Zevnik sold 324,686 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $9.67, for a total transaction of $3,139,713.62. Following the completion of the transaction, the director directly owned 2,107,582 shares in the company, valued at approximately $20,380,317.94. The trade was a 13.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alexandra Seros sold 685,111 shares of Entravision Communications stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $8.71, for a total value of $5,967,316.81. Following the transaction, the insider owned 8,974,750 shares in the company, valued at $78,170,072.50. This trade represents a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,821,690 shares of company stock valued at $39,075,784 over the last 90 days. Corporate insiders own 8.54% of the company’s stock.

Institutional Trading of Entravision Communications

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in shares of Entravision Communications during the 1st quarter valued at $28,000. BNP Paribas Financial Markets lifted its position in shares of Entravision Communications by 86.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock valued at $29,000 after acquiring an additional 5,702 shares during the period. IMC Chicago LLC bought a new stake in shares of Entravision Communications during the 1st quarter valued at $30,000. StoneX Group Inc. bought a new stake in shares of Entravision Communications during the 4th quarter valued at $35,000. Finally, Vise Technologies Inc. bought a new stake in shares of Entravision Communications during the 4th quarter valued at $38,000. 69.46% of the stock is currently owned by institutional investors.

Entravision Communications Stock Performance

Shares of EVC stock traded down $0.09 during trading on Tuesday, reaching $9.13. 1,551,666 shares of the company’s stock were exchanged, compared to its average volume of 2,522,770. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $839.50 million, a PE ratio of -41.50 and a beta of 1.81. Entravision Communications has a twelve month low of $1.95 and a twelve month high of $10.12. The firm’s fifty day moving average price is $6.69 and its 200-day moving average price is $4.33.

Entravision Communications (NYSE:EVC) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Entravision Communications had a negative return on equity of 25.31% and a negative net margin of 3.41%.The firm had revenue of $196.97 million for the quarter, compared to analyst estimates of $121.49 million.

Entravision Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 yield of 2.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Entravision Communications’s dividend payout ratio is currently -90.91%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Entravision Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.