American Century Investment Manag recently announced the acquisition of new stake in Entravision Communications Corporation (NYSE:EVC). The institutional investor has increased its shareholding in the Communication Services company by 1.35% to 10.08 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 16.39% valued currently at $48.36 million. In addition, The Vanguard Group, Inc. raised its holdings by 4828.0 to 2.77 million shares. And Royce & Associates LP has lifted its position by 6.03% or 0.14 million shares – to 2.53 million shares.
With over 0.39 million Entravision Communications Corporation (EVC) shares trading Friday and a closing price of $5.90 on the day, the dollar volume was approximately $2.31 million. The shares have shown a positive half year performance of 28.82% and its price on 01/13/23 gained nearly 7.27%. Currently, there are 84.95M common shares owned by the public and among those 58.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for EVC have a consensus price objective of $12.60. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $9.80. The average price target is 53.17% above its recent price level and an upside to the estimated low will see the stock gain 39.8% over that period. But an upside of 60.67% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 387,830 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 92,600 shares.
The top 3 mutual fund holders in Entravision Communications Corporation are American Century Small Cap Value, Vanguard Total Stock Market Index, and Goldman Sachs Small Cap Value Fun. American Century Small Cap Value owns 7.74 million shares of the company’s stock, all valued at over $37.14 million. Goldman Sachs Small Cap Value Fun bought 0.23 million shares to bring its total holdings to over 1.48 million shares at a value of $7.11 million. Goldman Sachs Small Cap Value Fun now owns shares totaling to 2.41% of the shares outstanding.
Shares of Entravision Communications Corporation (NYSE: EVC) opened at $5.40, down -$0.1 from a prior closing price of $5.50. However, the script later moved the day high at 5.94, up 7.27%. The company’s stock has a 5-day price change of 16.14% and 37.85% over the past three months. EVC shares are trading 22.92% year to date (YTD), with the 12-month market performance down to -6.20% lower. It has a 12-month low price of $3.96 and touched a high of $6.80 over the same period. EVC has an average intraday trading volume of 192.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.37%, 13.80%, and 17.52% respectively.
Institutional ownership of Entravision Communications Corporation (NYSE: EVC) shares accounts for 79.20% of the company’s 84.95M shares outstanding. Mutual fund holders own 29.12%, while other institutional holders and individual stakeholders account for 49.12% and 22.27% respectively.
It has a market capitalization of $467.22M and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 21.85, while the earnings-per-share (ttm) stands at $0.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.76% over the week and 4.25% over the month.
Analysts forecast that Entravision Communications Corporation (EVC) will achieve an EPS of $0.14 for the current quarter, $0.17 for the next quarter and $0.43 for 2023. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 817.80%, and 9.52% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Entravision Communications Corporation (EVC) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Wedbush coverage for the Entravision Communications Corporation (EVC) stock in a research note released on January 17, 2017 offered a Neutral rating with a price target of $7. Wedbush was of a view on October 12, 2015 that the stock is Outperform, while Noble Financial gave the stock Buy rating on January 08, 2015, issuing a price target of $6- $9. Caris & Company on their part issued Below Average rating on February 27, 2009.