West Face Capital Inc. lowered its holdings in Entravision Communication (NYSE:EVC) by 91.3% during the 4th quarter, HoldingsChannel reports. The fund owned 380,000 shares of the company’s stock after selling 3,971,908 shares during the quarter. Entravision Communication accounts for approximately 8.2% of West Face Capital Inc.’s investment portfolio, making the stock its 2nd largest holding. West Face Capital Inc.’s holdings in Entravision Communication were worth $2,717,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Entravision Communication by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,391 shares of the company’s stock valued at $372,000 after acquiring an additional 1,772 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Entravision Communication by 20.8% in the 2nd quarter. Voya Investment Management LLC now owns 32,940 shares of the company’s stock valued at $217,000 after acquiring an additional 5,661 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Entravision Communication by 5.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 270,712 shares of the company’s stock valued at $1,936,000 after acquiring an additional 13,266 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Entravision Communication by 1.8% in the 2nd quarter. Northern Trust Corp now owns 820,559 shares of the company’s stock valued at $5,416,000 after acquiring an additional 14,419 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Entravision Communication in the 4th quarter valued at about $107,000. 63.79% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research cut Entravision Communication from a “hold” rating to a “sell” rating in a report on Monday, January 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $7.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Monday, March 19th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.20 annualized dividend and a dividend yield of 3.11%. Entravision Communication’s payout ratio is currently 10.75%.
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Entravision Communication Company Profile
Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.
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