Entravision Communications (NYSE:EVC) Stock Falls 7.5% - Here's Why

Key Points

• Entravision shares fell 7.5% to approximately $6.59, with trading volume 39% below the average daily volume. The stock is trading below its 50-day and 200-day moving averages.
• Weiss Ratings upgraded the stock from “sell” to “hold,” while MarketBeat reports an overall analyst consensus of “Hold.” Entravision previously reported quarterly earnings of $0.19 per share, exceeding the $0.10 consensus estimate.
• A company director sold 35,000 shares at an average price of $8.40, reducing his ownership by 49.23%. Entravision also maintains a quarterly dividend of $0.05 per share, representing a 3.1% yield.

Entravision Communications Corporation (NYSE:EVC - Get Free Report) dropped 7.5% during trading on Tuesday. The stock traded as low as $6.76 and last traded at $6.5860. 906,719 shares traded hands during trading, a decline of 39% from the average daily volume of 1,498,041 shares. The stock had previously closed at $7.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Entravision Communications from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

Entravision Communications Stock Performance

The stock has a 50 day simple moving average of $8.79 and a two-hundred day simple moving average of $8.05. 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 $602.65 million, a PE ratio of 653.15 and a beta of 1.72.

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

Entravision Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, September 16th. Entravision Communications's dividend payout ratio (DPR) is 2,000.00%.

Insider Transactions at Entravision Communications

In other Entravision Communications news, Director Paul Zevnik sold 35,000 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $8.40, for a total transaction of $294,000.00. Following the transaction, the director owned 36,100 shares in the company, valued at $303,240. The trade was a 49.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Entravision Communications

A number of hedge funds have recently made changes to their positions in EVC. Empowered Funds LLC lifted its position in shares of Entravision Communications by 24.8% in the 1st quarter. Empowered Funds LLC now owns 568,569 shares of the company's stock worth $1,689,000 after buying an additional 113,013 shares during the last quarter. Ratan Capital Management LP bought a new stake in shares of Entravision Communications during the 2nd quarter valued at about $6,819,000. Gabelli Funds LLC raised its stake in Entravision Communications by 7.2% during the first quarter. Gabelli Funds LLC now owns 239,000 shares of the company's stock worth $710,000 after acquiring an additional 16,000 shares during the period. Rangeley Capital LLC raised its stake in Entravision Communications by 11.1% during the first quarter. Rangeley Capital LLC now owns 100,000 shares of the company's stock worth $297,000 after acquiring an additional 10,000 shares during the period. Finally, Teton Advisors LLC lifted its holdings in Entravision Communications by 23.1% in the first quarter. Teton Advisors LLC now owns 80,000 shares of the company's stock worth $238,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 69.46% of the company's stock.

About Entravision Communications

Entravision Communications Corporation NYSE: EVC is a global advertising, media and technology company headquartered in Santa Monica, California. The company operates digital advertising solutions, audio and television media businesses, and provides marketing services to brands and agencies.

Entravision's digital operations help advertisers plan, purchase and measure campaigns across connected television, mobile, social, streaming audio and other digital channels. Its offerings include programmatic advertising, mobile marketing, influencer and creator campaigns, and audio advertising.

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