Ratan Capital Management LP Buys New Position in Entravision Communications Corporation $EVC

Ratan Capital Management LP purchased a new position in Entravision Communications Corporation (NYSE:EVC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 522,902 shares of the company’s stock, valued at approximately $6,819,000. Entravision Communications accounts for about 2.2% of Ratan Capital Management LP’s portfolio, making the stock its 14th biggest position. Ratan Capital Management LP owned about 0.57% of Entravision Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in EVC. Flower City Capital bought a new position in Entravision Communications in the 2nd quarter worth $137,000. Empowered Funds LLC lifted its position in shares of Entravision Communications by 24.8% in the 1st quarter. Empowered Funds LLC now owns 568,569 shares of the company’s stock worth $1,689,000 after purchasing an additional 113,013 shares during the period. Rangeley Capital LLC boosted its stake in shares of Entravision Communications by 11.1% during the 1st quarter. Rangeley Capital LLC now owns 100,000 shares of the company’s stock valued at $297,000 after purchasing an additional 10,000 shares in the last quarter. Teton Advisors LLC boosted its stake in shares of Entravision Communications by 23.1% during the 1st quarter. Teton Advisors LLC now owns 80,000 shares of the company’s stock valued at $238,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Entravision Communications by 7.2% during the first quarter. Gabelli Funds LLC now owns 239,000 shares of the company’s stock valued at $710,000 after buying an additional 16,000 shares during the period. Institutional investors own 69.46% of the company’s stock.

Wall Street Analysts Forecast Growth

EVC has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Entravision Communications in a research note 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, Based on data from MarketBeat.com, Entravision Communications presently has an average rating of “Sell”.

Insider Buying and Selling

In other Entravision Communications news, Director Paul A. Zevnik sold 324,686 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.12% of the stock is owned by insiders.

Entravision Communications Price Performance

EVC opened at $8.12 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.64. The company has a market cap of $749.39 million, a price-to-earnings ratio of 812.81 and a beta of 1.72. The stock has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $7.12. Entravision Communications Corporation has a 12-month low of $1.95 and a 12-month high of $13.74.

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

Entravision Communications Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.20 annualized dividend and a yield of 2.5%. Entravision Communications’s payout ratio is presently 2,000.00%.

Entravision Communications 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.