Entravision Communications Corporation (NYSE:EVC) experienced a notable increase in short interest for December 2023. As of December 15, short interest reached a total of 717,379 shares, marking a rise of 29.4% from the previous total of 554,566 shares reported on November 30. With an average trading volume of 400,857 shares, the current days-to-cover ratio stands at approximately 1.8 days, indicating that around 0.9% of the company’s shares are sold short.
Stock Performance and Financial Indicators
On Friday, Entravision Communications shares opened at a price of $2.93. The company maintains a quick ratio and current ratio of 1.74, alongside a debt-to-equity ratio of 1.95. Over the past year, the stock has fluctuated, hitting a low of $1.58 and a high of $3.43. The 50-day moving average is currently $2.78, while the 200-day moving average stands at $2.51. Entravision boasts a market capitalization of approximately $266.57 million and reports a P/E ratio of -2.25, reflecting its current financial challenges.
The company last disclosed its quarterly earnings on November 4, 2023, reporting an earnings per share (EPS) of -$0.11. Entravision’s return on equity stands at a negative 66.12%, coupled with a negative net margin of 27.92%. For the quarter, the company generated revenues of $120.63 million.
Insider Activity and Institutional Investments
In addition to fluctuations in short interest, notable insider trading activity has occurred. Chief Operating Officer Liberman A. Jeffery sold 20,153 shares of the company’s stock on December 15, at an average price of $3.15, totaling approximately $63,482. Following this transaction, Jeffery retains 58,357 shares, valued at around $183,825, which reflects a 25.67% reduction in his ownership.
Over the past three months, insiders have sold a total of 920,000 shares of Entravision stock, valued at approximately $2.66 million. Currently, insiders hold about 8.34% of the company’s stock.
Institutional investors have also been active, with several firms adjusting their holdings. Notably, Nuveen LLC acquired a new position worth approximately $366,000 in the first quarter of 2023. Meanwhile, American Century Companies Inc. increased its stake by 10.7% in the second quarter, now owning 10,202,560 shares valued at $23.67 million after buying an additional 984,510 shares. Other institutional players such as R Squared Ltd and Corsair Capital Management L.P. have also made recent investments, contributing to the 69.46% of the company’s stock currently held by institutional investors and hedge funds.
Separately, Weiss Ratings reiterated a “sell (d)” rating on Entravision Communications shares in a recent research note. Currently, one analyst has rated the stock with a “sell” designation, and according to data from MarketBeat, the consensus rating remains “sell.”
Entravision Communications Corporation is a diversified Spanish-language media and advertising company based in Santa Monica, California. It focuses on developing and distributing multimedia content tailored to Hispanic audiences across the United States. The company operates over 50 television stations affiliated with leading Spanish-language networks and more than 40 radio stations in key U.S. markets, leveraging both traditional broadcasting and digital platforms.
