Entravision Communications (NYSE:EVC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Entravision Communications Corporation (NYSE:EVC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.90 and traded as high as $8.70. Entravision Communications shares last traded at $8.4510, with a volume of 1,177,887 shares changing hands.

Analyst Upgrades and Downgrades

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

Entravision Communications Stock Up 0.7%

The firm has a market cap of $746.63 million, a price-to-earnings ratio of 809.81 and a beta of 1.72. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50-day moving average is $10.84 and its 200-day moving average is $6.94.

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

Entravision Communications Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of Entravision Communications

Several hedge funds have recently added to or reduced their stakes in EVC. MetLife Investment Management LLC increased 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 worth $56,000 after purchasing an additional 6,991 shares in the last quarter. AQR Capital Management LLC bought a new position in Entravision Communications in the first quarter valued at approximately $28,000. Goldman Sachs Group Inc. boosted its holdings 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 valued at $1,251,000 after buying an additional 73,103 shares during the period. Empowered Funds LLC boosted its holdings 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 valued at $988,000 after buying an additional 32,321 shares during the period. Finally, Jane Street Group LLC increased its position 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 worth $80,000 after acquiring an additional 22,606 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Entravision Communications Company Profile

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.