Entravision Communications Corporation (NYSE: EVC) has experienced a notable uptick in short interest, with figures rising to 717,379 shares as of December 15, 2023. This represents a substantial increase of 29.4% from November’s total of 554,566 shares. With an average trading volume of 400,857 shares, the current days-to-cover ratio stands at 1.8 days, indicating a relatively low level of short selling activity, as approximately 0.9% of the company’s shares are currently sold short.
Stock Performance and Financial Metrics
As of December 15, Entravision’s stock opened at $2.93. The company showcases a quick ratio of 1.74 and a current ratio also at 1.74, alongside a debt-to-equity ratio of 1.95. Over the past year, the stock has seen a low of $1.58 and a high of $3.43. The 50-day moving average is noted at $2.78, while the 200-day moving average is at $2.51, contributing to a market capitalization of approximately $266.57 million. The company currently has a price-to-earnings (P/E) ratio of -2.25 and a beta of 1.26, reflecting its volatility compared to the market.
In its latest quarterly earnings report released on November 4, Entravision reported an earnings per share (EPS) of ($0.11), with a negative return on equity of 66.12% and a negative net margin of 27.92%. The revenue for this quarter was $120.63 million, underscoring the financial challenges the company faces.
Insider Activity and Institutional Investments
Recent insider trading activity has also been noteworthy. On December 15, Chief Operating Officer Liberman A. Jeffery sold 20,153 shares at an average price of $3.15, amounting to approximately $63,482. Following this transaction, Jeffery now holds 58,357 shares valued at about $183,825, which marks a 25.67% reduction in his ownership of the stock. In the last three months, insiders have sold a total of 920,000 shares valued at $2,658,527, with insiders currently owning 8.34% of the company.
Institutional investors have also been active, with several firms adjusting their stakes in Entravision. In the first quarter, Nuveen LLC acquired a new position worth approximately $366,000. Meanwhile, American Century Companies Inc. increased its holdings by 10.7% in the second quarter, now owning over 10 million shares valued at $23.67 million. Other notable transactions include R Squared Ltd‘s new stake worth $44,000 and Corsair Capital Management L.P. increasing its position by 285.4%, acquiring an additional 74,785 shares. Institutional and hedge funds currently hold 69.46% of the company’s stock.
Analyst Ratings and Company Overview
In terms of market outlook, Weiss Ratings has reiterated a “sell (d)” rating on Entravision’s shares. Overall, one analyst has issued a Sell rating, and the stock currently holds a consensus rating of “Sell” according to data from MarketBeat.
Entravision Communications Corporation, headquartered in Santa Monica, California, operates as a diversified Spanish-language media and advertising company. The firm focuses on developing and distributing multimedia content for Hispanic audiences throughout the United States, utilizing both traditional broadcasting and digital platforms. Entravision owns and operates over 50 television stations and more than 40 radio stations, primarily affiliated with leading Spanish-language networks.
With these changes in short interest, insider activity, and institutional investments, Entravision Communications continues to navigate a challenging financial landscape while striving to engage a rapidly growing demographic.
