Entravision Communications (NYSE:EVC) Shares Gap Up – Here’s What Happened

Shares of Entravision Communications Corporation (NYSE:EVC) gapped up before the market opened on Monday . The stock had previously closed at $8.07, but opened at $8.45. Entravision Communications shares last traded at $8.11, with a volume of 46,029 shares changing hands.

Wall Street Analysts Forecast Growth

EVC has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a report on Wednesday, June 3rd. Wall Street Zen upgraded Entravision Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Entravision Communications Stock Up 0.2%

The firm’s 50-day moving average price is $10.81 and its 200-day moving average price is $6.97. 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 company has a market cap of $746.16 million, a price-to-earnings ratio of 807.61 and a beta of 1.72.

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

Entravision Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 16th. Entravision Communications’s payout ratio is currently 2,000.00%.

Insider Buying and Selling at Entravision Communications

In other news, Director Paul A. Zevnik sold 324,686 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $9.67, for a total value of $3,139,713.62. Following the completion of the sale, the director owned 2,107,582 shares of the company’s stock, valued at $20,380,317.94. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Entravision Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in Entravision Communications in the 1st quarter worth approximately $28,000. BNP Paribas Financial Markets grew its position in Entravision Communications by 86.4% in the third 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 in the last quarter. IMC Chicago LLC purchased a new stake in shares of Entravision Communications during the first quarter valued at approximately $30,000. StoneX Group Inc. purchased a new stake in shares of Entravision Communications during the fourth quarter valued at approximately $35,000. Finally, Vise Technologies Inc. acquired a new position in shares of Entravision Communications during the fourth quarter worth $38,000. 69.46% of the stock is owned by institutional investors and hedge funds.

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.