Entravision Communications (NYSE:EVC) Shares Pass Above 200 Day Moving Average – Here’s Why

Entravision Communications Corporation (NYSE:EVC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.38 and traded as high as $11.72. Entravision Communications shares last traded at $11.6560, with a volume of 938,883 shares.

Wall Street Analyst Weigh In

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

Entravision Communications Stock Performance

The business has a 50-day simple moving average of $10.75 and a 200 day simple moving average of $6.44. 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 firm has a market cap of $1.05 billion, a PE ratio of -51.93 and a beta of 1.72.

Entravision Communications (NYSE:EVC) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $196.97 million for 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%.

Insider Activity at Entravision Communications

In other news, major shareholder Alexandra Seros sold 685,111 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $8.71, for a total transaction of $5,967,316.81. Following the sale, the insider directly owned 8,974,750 shares in the company, valued at $78,170,072.50. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul A. Zevnik sold 324,686 shares of Entravision Communications stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.67, for a total transaction of $3,139,713.62. Following the transaction, the director owned 2,107,582 shares in the company, valued at approximately $20,380,317.94. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,144,542 shares of company stock worth $34,356,063 in the last ninety days. Insiders own 9.12% of the company’s stock.

Hedge Funds Weigh In On Entravision Communications

A number of hedge funds have recently made changes to their positions in EVC. IMC Chicago LLC bought a new stake in Entravision Communications during the 1st quarter valued at approximately $30,000. Flower City Capital purchased a new position in shares of Entravision Communications in the 2nd quarter worth $137,000. StoneX Group Inc. bought a new stake in Entravision Communications during the fourth quarter worth approximately $35,000. BNP Paribas Financial Markets increased its position in shares of Entravision Communications by 86.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock valued at $29,000 after purchasing an additional 5,702 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Entravision Communications in the fourth quarter valued at $38,000. Institutional investors own 69.46% of the company’s stock.

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.