Renaissance Technologies LLC reduced its stake in Entravision Communications Corporation (NYSE:EVC – Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,220,556 shares of the company’s stock after selling 53,294 shares during the quarter. Renaissance Technologies LLC owned 2.41% of Entravision Communications worth $6,595,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in shares of Entravision Communications during the first quarter worth approximately $28,000. BNP Paribas Financial Markets increased its stake in Entravision Communications by 86.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,298 shares of the company’s stock valued at $29,000 after buying an additional 5,702 shares during the period. IMC Chicago LLC acquired a new position in Entravision Communications in the 1st quarter valued at $30,000. StoneX Group Inc. acquired a new position in Entravision Communications in the 4th quarter valued at $35,000. Finally, Vise Technologies Inc. purchased a new position in Entravision Communications during the 4th quarter worth $38,000. Institutional investors and hedge funds own 69.46% of the company’s stock.
Insider Buying and Selling
In related news, major shareholder Alexandra Seros sold 427,991 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $9.17, for a total value of $3,924,677.47. Following the completion of the transaction, the insider directly owned 6,823,139 shares of the company’s stock, valued at $62,568,184.63. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $9.67, for a total value of $3,139,713.62. Following the transaction, the director directly owned 2,107,582 shares of the company’s stock, valued at approximately $20,380,317.94. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,821,690 shares of company stock worth $39,075,784. Insiders own 9.12% of the company’s stock.
Entravision Communications Trading Up 5.6%
Entravision Communications (NYSE:EVC – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $196.97 million for the quarter, compared to analyst estimates of $121.49 million.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Entravision Communications in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Entravision Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.
Get Our Latest Analysis on Entravision Communications
Entravision Communications Company 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.
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