Stock Traders Buy High Volume of Put Options on Entravision Communication (EVC)

Entravision Communication (NYSE:EVC) was the recipient of some unusual options trading activity on Monday. Stock investors purchased 1,600 put options on the company. This represents an increase of 1,341% compared to the average daily volume of 111 put options.

Shares of Entravision Communication (EVC) traded up $0.15 during midday trading on Wednesday, hitting $6.70. 475,276 shares of the stock were exchanged, compared to its average volume of 569,700. The firm has a market capitalization of $580.52, a PE ratio of 3.60 and a beta of 1.47. Entravision Communication has a 52-week low of $5.05 and a 52-week high of $7.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.93 and a quick ratio of 6.93.

A number of research analysts have recently issued reports on EVC shares. Noble Financial reiterated a “buy” rating on shares of Entravision Communication in a report on Friday, November 3rd. Zacks Investment Research cut shares of Entravision Communication from a “hold” rating to a “sell” rating in a report on Monday, January 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Entravision Communication during the fourth quarter valued at about $107,000. Virtu Financial LLC acquired a new position in shares of Entravision Communication during the fourth quarter valued at about $110,000. Stone Ridge Asset Management LLC acquired a new position in shares of Entravision Communication during the fourth quarter valued at about $144,000. Teacher Retirement System of Texas acquired a new position in shares of Entravision Communication during the fourth quarter valued at about $161,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Entravision Communication during the fourth quarter valued at about $173,000. Hedge funds and other institutional investors own 59.18% of the company’s stock.

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About Entravision Communication

Entravision Communications Corporation is a media company. The Company reaches and engages Hispanics in the United States and certain border markets of Mexico across media channels and advertising platforms. The Company operates through three segments: television broadcasting, radio broadcasting and digital media.

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