Alliancebernstein L.P. Has $405,000 Stake in Entravision Communication (NYSE:EVC)
Alliancebernstein L.P. reduced its position in Entravision Communication (NYSE:EVC) by 9.5% during the first quarter, Holdings Channel reports. The institutional investor owned 65,400 shares of the company’s stock after selling 6,900 shares during the period. Alliancebernstein L.P.’s holdings in Entravision Communication were worth $405,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in EVC. American Century Companies Inc. boosted its stake in shares of Entravision Communication by 17.5% in the first quarter. American Century Companies Inc. now owns 6,072,286 shares of the company’s stock worth $37,648,000 after buying an additional 906,364 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Entravision Communication by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,815,827 shares of the company’s stock worth $19,710,000 after buying an additional 42,119 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Entravision Communication by 46.2% in the first quarter. Deprince Race & Zollo Inc. now owns 1,280,390 shares of the company’s stock worth $7,938,000 after buying an additional 404,771 shares during the last quarter. Wells Fargo & Company MN raised its position in Entravision Communication by 18.5% in the first quarter. Wells Fargo & Company MN now owns 1,105,744 shares of the company’s stock worth $6,856,000 after buying an additional 172,848 shares during the last quarter. Finally, State Street Corp raised its position in Entravision Communication by 3.8% in the fourth quarter. State Street Corp now owns 1,099,342 shares of the company’s stock worth $7,698,000 after buying an additional 40,266 shares during the last quarter. 63.66% of the stock is owned by institutional investors.
Entravision Communication (NYSE:EVC) traded down 0.431% during trading on Friday, hitting $5.775. The stock had a trading volume of 81,412 shares. Entravision Communication has a 12-month low of $4.90 and a 12-month high of $7.89. The company has a market capitalization of $522.16 million, a price-to-earnings ratio of 28.875 and a beta of 1.50. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $6.02.
Entravision Communication (NYSE:EVC) last issued its earnings results on Wednesday, August 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Entravision Communication had a net margin of 5.05% and a return on equity of 7.43%. The firm had revenue of $70.51 million during the quarter, compared to analyst estimates of $67.59 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts forecast that Entravision Communication will post $0.15 earnings per share for the current year.
Entravision Communication announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 2nd that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 14th will be paid a $0.05 dividend. This is an increase from Entravision Communication’s previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Wednesday, September 13th. Entravision Communication’s dividend payout ratio (DPR) is 61.90%.
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A number of equities analysts have recently commented on EVC shares. Zacks Investment Research upgraded Entravision Communication from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Noble Financial reiterated a “buy” rating on shares of Entravision Communication in a research note on Thursday, May 11th. Macquarie reiterated a “neutral” rating and issued a $7.00 price objective on shares of Entravision Communication in a research note on Tuesday, April 18th. Finally, BidaskClub lowered Entravision Communication from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.00.
Entravision Communication 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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