Entravision Communications Corporation (NYSE:EVC) Sees Large Growth in Short Interest

Entravision Communications Corporation (NYSE:EVC) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 4,416,873 shares, an increase of 76.1% from the May 14th total of 2,508,368 shares. Based on an average trading volume of 3,300,382 shares, the short-interest ratio is currently 1.3 days. Approximately 5.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

EVC has been the topic of a number of recent research reports. Wall Street Zen raised Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Entravision Communications in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Entravision Communications has a consensus rating of “Sell”.

Insiders Place Their Bets

In related news, Director Paul A. Zevnik sold 324,686 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.67, for a total value of $3,139,713.62. Following the sale, the director directly owned 2,107,582 shares of the company’s stock, valued at approximately $20,380,317.94. The trade was a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Alexandra Seros sold 427,991 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $9.17, for a total value of $3,924,677.47. Following the transaction, the insider owned 6,823,139 shares of the company’s stock, valued at approximately $62,568,184.63. This trade represents a 5.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 4,821,690 shares of company stock worth $39,075,784. 8.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Entravision Communications

A number of institutional investors and hedge funds have recently made changes to their positions in EVC. IMC Chicago LLC acquired a new stake in shares of Entravision Communications in the 1st quarter valued at approximately $30,000. StoneX Group Inc. acquired a new position in Entravision Communications during the fourth quarter worth $35,000. BNP Paribas Financial Markets raised its position in Entravision Communications by 86.4% during the third quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock worth $29,000 after acquiring an additional 5,702 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Entravision Communications in the fourth quarter valued at $38,000. Finally, AQR Capital Management LLC acquired a new stake in Entravision Communications in the first quarter valued at $28,000. Institutional investors own 69.46% of the company’s stock.

Entravision Communications Trading Up 3.3%

Shares of NYSE:EVC opened at $9.44 on Wednesday. The company’s 50-day moving average price is $6.69 and its two-hundred day moving average price is $4.33. Entravision Communications has a one year low of $1.95 and a one year high of $10.12. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $868.10 million, a PE ratio of -41.89 and a beta of 1.81.

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

Entravision Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, June 16th. Entravision Communications’s dividend payout ratio (DPR) is currently -90.91%.

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.