Entravision Communications (NYSE:EVC) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Entravision Communications Corporation (NYSE:EVC) saw unusually-strong trading volume on Wednesday . Approximately 2,001,586 shares changed hands during trading, an increase of 65% from the previous session’s volume of 1,212,173 shares.The stock last traded at $7.7750 and had previously closed at $8.08.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Entravision Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Entravision Communications Trading Up 3.8%

The stock has a market capitalization of $907.21 million, a P/E ratio of -44.94 and a beta of 1.36. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.19. The stock’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $3.50.

Entravision Communications (NYSE:EVC) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $196.97 million during the quarter, compared to analyst estimates of $121.49 million. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%.

Entravision Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 16th. Entravision Communications’s payout ratio is presently -90.91%.

Insider Buying and Selling at Entravision Communications

In other news, major shareholder Alexandra Seros sold 427,991 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $9.17, for a total value of $3,924,677.47. Following the completion of the sale, the insider directly owned 6,823,139 shares in the company, valued at approximately $62,568,184.63. The trade was a 5.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,497,004 shares of company stock valued at $35,936,071. Insiders own 8.34% of the company’s stock.

Institutional Investors Weigh In On Entravision Communications

A number of hedge funds have recently made changes to their positions in EVC. MetLife Investment Management LLC lifted its holdings in shares of Entravision Communications by 35.7% in the 1st quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock worth $56,000 after acquiring an additional 6,991 shares during the last quarter. AQR Capital Management LLC bought a new stake in Entravision Communications during the 1st quarter valued at $28,000. Goldman Sachs Group Inc. raised its holdings in Entravision Communications by 14.0% during the 1st 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 last quarter. Empowered Funds LLC raised its holdings in Entravision Communications by 7.4% during the 1st 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 last quarter. Finally, Jane Street Group LLC raised its holdings in Entravision Communications by 146.2% during the 1st quarter. Jane Street Group LLC now owns 38,070 shares of the company’s stock valued at $80,000 after buying an additional 22,606 shares during the last quarter. 69.46% of the stock is currently owned by institutional investors.

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.