Empowered Funds LLC Purchases 113,013 Shares of Entravision Communications Corporation $EVC

Key Points

• Empowered Funds LLC increased its Entravision Communications position by 24.8% in the first quarter, acquiring 113,013 shares to own 568,569 shares, or roughly 0.62% of the company. Institutional investors collectively hold 69.46% of EVC.
• Analyst sentiment remains negative despite Wall Street Zen upgrading the stock to “buy”: Weiss Ratings maintained a “sell” rating, and MarketBeat reports a consensus “sell” rating. Insiders sold 3.65 million shares worth approximately $31 million over the last quarter.
• EVC shares opened at $12.00 after rising 5.2%, trading near their 12-month high of $13.74. The company reported quarterly EPS of $0.13 versus estimates of $0.10 and revenue of $196.97 million, well above the $121.49 million consensus forecast.

Empowered Funds LLC grew its position in shares of Entravision Communications Corporation (NYSE:EVC - Free Report) by 24.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 568,569 shares of the company's stock after acquiring an additional 113,013 shares during the period. Empowered Funds LLC owned about 0.62% of Entravision Communications worth $1,689,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EVC. IMC Chicago LLC bought a new stake in Entravision Communications during the 1st quarter valued at about $30,000. StoneX Group Inc. purchased a new position in shares of Entravision Communications during the 4th quarter valued at $35,000. BNP Paribas Financial Markets boosted 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 buying an additional 5,702 shares during the period. Vise Technologies Inc. purchased a new stake in Entravision Communications in the 4th quarter worth $38,000. Finally, AQR Capital Management LLC purchased a new stake in Entravision Communications in the 1st quarter worth $28,000. Institutional investors own 69.46% of the company's stock.

Analyst Ratings Changes

EVC has been the subject of several research reports. Wall Street Zen raised shares of Entravision Communications from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Entravision Communications in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".

Insider Activity

In other news, major shareholder Alexandra Seros sold 685,111 shares of the stock in a transaction dated 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 sale, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul A. Zevnik sold 324,686 shares of Entravision Communications 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 completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,645,629 shares of company stock worth $30,998,378 over the last quarter. 9.12% of the stock is currently owned by company insiders.

Entravision Communications Trading Up 5.2%

Entravision Communications stock opened at $12.00 on Friday. Entravision Communications Corporation has a 12 month low of $1.95 and a 12 month high of $13.74. The firm has a market cap of $1.10 billion, a PE ratio of -54.54 and a beta of 1.72. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.19. The stock's 50 day simple moving average is $10.85 and its two-hundred day simple moving average is $6.54.

Entravision Communications (NYSE:EVC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $196.97 million for the quarter, compared to analysts' expectations of $121.49 million. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%.

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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