Millennium Management LLC reduced its position in shares of Entravision Communication (NYSE:EVC) by 54.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 387,787 shares of the company’s stock after selling 456,235 shares during the quarter. Millennium Management LLC owned 0.44% of Entravision Communication worth $1,939,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Hartford Investment Management Co. purchased a new position in shares of Entravision Communication during the 2nd quarter valued at about $142,000. MetLife Investment Advisors LLC lifted its position in shares of Entravision Communication by 266.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 32,143 shares of the company’s stock valued at $161,000 after buying an additional 23,369 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Entravision Communication during the 1st quarter valued at about $188,000. A.R.T. Advisors LLC purchased a new position in shares of Entravision Communication during the 1st quarter valued at about $228,000. Finally, United Services Automobile Association lifted its position in shares of Entravision Communication by 16.8% during the 2nd quarter. United Services Automobile Association now owns 94,542 shares of the company’s stock valued at $473,000 after buying an additional 13,619 shares in the last quarter. Institutional investors and hedge funds own 61.91% of the company’s stock.
EVC stock opened at $4.86 on Friday. Entravision Communication has a twelve month low of $3.90 and a twelve month high of $7.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 5.60 and a current ratio of 5.60. The stock has a market cap of $431.79 million, a PE ratio of 2.86 and a beta of 1.46.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 4.12%. Entravision Communication’s dividend payout ratio is presently 11.56%.
In related news, CFO Christopher T. Young sold 50,374 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $5.45, for a total value of $274,538.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 20.99% of the stock is currently owned by insiders.
EVC has been the topic of a number of analyst reports. Zacks Investment Research raised Entravision Communication from a “sell” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Wednesday, August 8th. Noble Financial set a $6.00 price objective on Entravision Communication and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, ValuEngine raised Entravision Communication from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Entravision Communication currently has a consensus rating of “Buy” and a consensus target price of $5.75.
About Entravision Communication
Entravision Communications Corporation operates as a media company that reaches and engages Hispanics across media channels and advertising platforms primarily in the United States, Spain, Mexico, Argentina, and other Latin America countries. The company operates through three segments: Television Broadcasting, Radio Broadcasting, and Digital Media.
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