Entravision Communications (NYSE:EVC) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Entravision shares rose above their 200-day moving average, reaching $11.72 and last trading near $11.66, compared with a 200-day average of $6.38.
• The company reported quarterly EPS of $0.13, beating estimates of $0.10, while revenue reached $196.97 million versus expectations of $121.49 million. Despite the earnings beat, analysts maintain a consensus “Sell” rating.
• Insiders sold 4.82 million shares worth approximately $39.1 million over the past 90 days, while institutional investors own about 69.5% of the company.

Entravision Communications Corporation (NYSE:EVC - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.38 and traded as high as $11.72. Entravision Communications shares last traded at $11.6560, with a volume of 938,883 shares traded.

Wall Street Analysts Forecast Growth

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

Entravision Communications Price Performance

The company has a 50 day moving average of $10.71 and a two-hundred day moving average of $6.38. The firm has a market cap of $1.07 billion, a P/E ratio of -52.98 and a beta of 1.72. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.19.

Entravision Communications (NYSE:EVC - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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.

Insider Activity at Entravision Communications

In related news, major shareholder Alexandra Seros sold 685,111 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $8.71, for a total transaction 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 $78,170,072.50. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Zevnik sold 324,686 shares of the firm's stock in a transaction that occurred on 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 sale, the director owned 2,107,582 shares of the company's stock, valued at $20,380,317.94. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,821,690 shares of company stock worth $39,075,784 in the last ninety days. Corporate insiders own 9.12% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVC. AQR Capital Management LLC acquired a new stake in shares of Entravision Communications during the first quarter worth $28,000. BNP Paribas Financial Markets boosted its position in shares of Entravision Communications by 86.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company's stock valued at $29,000 after purchasing an additional 5,702 shares during the period. IMC Chicago LLC acquired a new position in shares of Entravision Communications in the 1st quarter valued at $30,000. StoneX Group Inc. purchased a new position in Entravision Communications in the 4th quarter worth about $35,000. Finally, Vise Technologies Inc. purchased a new position in Entravision Communications in the 4th quarter worth about $38,000. Institutional investors own 69.46% of the company's stock.

About Entravision Communications

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.

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