Entravision Communications (NYSE:EVC) Trading Down 9.1% on Insider Selling

Shares of Entravision Communications Corporation (NYSE:EVC) dropped 9.1% on Friday after an insider sold shares in the company. The stock traded as low as $8.04 and last traded at $8.0360. Approximately 741,461 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 1,140,929 shares. The stock had previously closed at $8.84.

Specifically, major shareholder Alexandra Seros sold 338,976 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.03, for a total value of $3,060,953.28. Following the completion of the sale, the insider owned 8,635,774 shares of the company’s stock, valued at $77,981,039.22. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Alexandra Seros sold 685,111 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $8.71, for a total value of $5,967,316.81. Following the completion of the sale, the insider directly owned 8,974,750 shares of the company’s stock, valued at approximately $78,170,072.50. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other Entravision Communications news, major shareholder Alexandra Seros sold 160,282 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $8.33, for a total transaction of $1,335,149.06. Following the completion of the sale, the insider directly owned 9,659,861 shares in the company, valued at approximately $80,466,642.13. This trade represents a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Entravision Communications Price Performance

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’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $3.28. The firm has a market capitalization of $728.14 million, a price-to-earnings ratio of -36.15 and a beta of 1.36.

Entravision Communications (NYSE:EVC) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.13 earnings per share (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 during the quarter, compared to analysts’ expectations of $121.49 million.

Entravision Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. Entravision Communications’s payout ratio is presently -90.91%.

Institutional Investors Weigh In On Entravision Communications

Institutional investors and hedge funds have recently modified their holdings of the business. IMC Chicago LLC acquired a new stake in shares of Entravision Communications in the first quarter worth about $30,000. SG Americas Securities LLC acquired a new position in shares of Entravision Communications during the 3rd quarter valued at about $27,000. StoneX Group Inc. bought a new position in shares of Entravision Communications in the 4th quarter valued at approximately $35,000. BNP Paribas Financial Markets lifted its holdings in Entravision Communications by 86.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock worth $29,000 after purchasing an additional 5,702 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in Entravision Communications during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

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.