Gate City Capital Management LLC Decreases Stock Holdings in Entravision Communications Corporation $EVC

Gate City Capital Management LLC lowered its stake in shares of Entravision Communications Corporation (NYSE:EVC) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,090,968 shares of the company’s stock after selling 506,600 shares during the quarter. Entravision Communications makes up approximately 14.1% of Gate City Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Gate City Capital Management LLC owned about 0.12% of Entravision Communications worth $32,497,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EVC. MetLife Investment Management LLC lifted its position in Entravision Communications by 35.7% during the 1st quarter. MetLife Investment Management LLC now owns 26,568 shares of the company’s stock valued at $56,000 after purchasing an additional 6,991 shares during the period. AQR Capital Management LLC acquired a new position in Entravision Communications during the 1st quarter valued at about $28,000. Goldman Sachs Group Inc. lifted its position 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 purchasing an additional 73,103 shares during the period. Empowered Funds LLC lifted its position 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 purchasing an additional 32,321 shares during the period. Finally, Jane Street Group LLC lifted its position 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 purchasing an additional 22,606 shares during the period. Institutional investors own 69.46% of the company’s stock.

Insider Activity at Entravision Communications

In related news, Director Paul A. Zevnik sold 324,686 shares of Entravision Communications stock in a transaction that occurred 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 of the company’s stock, valued at $20,380,317.94. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alexandra Seros sold 685,111 shares of Entravision Communications stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $8.71, for a total transaction of $5,967,316.81. Following the transaction, the insider directly owned 8,974,750 shares in the company, valued at $78,170,072.50. The trade was a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,821,690 shares of company stock worth $39,075,784 in the last three months. 8.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EVC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a research report on Wednesday, June 3rd. 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, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Entravision Communications Stock Performance

Entravision Communications stock opened at $9.13 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.19. Entravision Communications Corporation has a 1 year low of $1.95 and a 1 year high of $10.12. The company has a market cap of $839.50 million, a PE ratio of -41.50 and a beta of 1.81. The company’s 50-day moving average is $6.69 and its two-hundred day moving average is $4.33.

Entravision Communications (NYSE:EVC) last announced its quarterly earnings results 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. Entravision Communications had a negative net margin of 3.41% and a negative return on equity of 25.31%. The business had revenue of $196.97 million for the quarter, compared to the consensus estimate of $121.49 million.

Entravision Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.20 annualized dividend and a yield of 2.2%. Entravision Communications’s dividend payout ratio (DPR) is presently -90.91%.

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.