Ratan Capital Management LP Acquires Shares of 522,902 Entravision Communications Corporation $EVC

Ratan Capital Management LP purchased a new stake in shares of Entravision Communications Corporation (NYSE:EVC) during the second quarter, HoldingsChannel reports. The institutional investor purchased 522,902 shares of the company’s stock, valued at approximately $6,819,000. Entravision Communications makes up about 2.2% of Ratan Capital Management LP’s investment portfolio, making the stock its 14th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its stake in Entravision Communications by 35.7% during the 1st quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock valued at $56,000 after purchasing an additional 6,991 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Entravision Communications in the 1st quarter worth $28,000. Goldman Sachs Group Inc. raised its stake in shares of Entravision Communications by 14.0% in the first quarter. Goldman Sachs Group Inc. now owns 595,685 shares of the company’s stock worth $1,251,000 after purchasing an additional 73,103 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Entravision Communications by 7.4% in the first quarter. Empowered Funds LLC now owns 470,465 shares of the company’s stock worth $988,000 after purchasing an additional 32,321 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Entravision Communications by 146.2% during the first quarter. Jane Street Group LLC now owns 38,070 shares of the company’s stock valued at $80,000 after purchasing an additional 22,606 shares in the last quarter. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Paul A. Zevnik sold 324,686 shares of the company’s stock in a transaction 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 sale, the director owned 2,107,582 shares in the company, valued at approximately $20,380,317.94. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.12% of the company’s stock.

Entravision Communications Stock Up 0.4%

Shares of Entravision Communications stock opened at $8.12 on Friday. Entravision Communications Corporation has a twelve month low of $1.95 and a twelve month high of $13.74. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.64. The company’s 50 day moving average is $10.67 and its 200 day moving average is $7.12. The company has a market cap of $749.39 million, a price-to-earnings ratio of 812.81 and a beta of 1.72.

Entravision Communications (NYSE:EVC) last posted its earnings results on Monday, August 10th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The business had revenue of $227.90 million during the quarter, compared to the consensus estimate of $121.49 million. Entravision Communications had a net margin of 0.62% and a return on equity of 6.98%.

Entravision Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 16th. Entravision Communications’s dividend payout ratio (DPR) is 2,000.00%.

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.