Renaissance Technologies LLC reduced its stake in Hemisphere Media Group, Inc. (NASDAQ:HMTV) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 459,448 shares of the company’s stock after selling 12,234 shares during the period. Renaissance Technologies LLC owned about 1.08% of Hemisphere Media Group worth $5,399,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HMTV. Wells Fargo & Company MN raised its position in shares of Hemisphere Media Group by 541.0% in the first quarter. Wells Fargo & Company MN now owns 257,322 shares of the company’s stock valued at $3,024,000 after buying an additional 217,180 shares during the period. Oxford Asset Management raised its position in shares of Hemisphere Media Group by 10.9% in the first quarter. Oxford Asset Management now owns 20,834 shares of the company’s stock valued at $245,000 after buying an additional 2,043 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Hemisphere Media Group during the first quarter valued at about $235,000. Nordea Investment Management AB raised its position in shares of Hemisphere Media Group by 6.9% in the first quarter. Nordea Investment Management AB now owns 365,499 shares of the company’s stock valued at $4,295,000 after buying an additional 23,700 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Hemisphere Media Group by 0.5% in the first quarter. Schroder Investment Management Group now owns 749,146 shares of the company’s stock valued at $8,915,000 after buying an additional 3,668 shares during the period. Institutional investors own 27.14% of the company’s stock.
Shares of Hemisphere Media Group, Inc. (NASDAQ:HMTV) traded down 0.80% on Wednesday, reaching $12.45. 1,873 shares of the company traded hands. The firm has a market capitalization of $531.32 million, a P/E ratio of 28.30 and a beta of 0.46. Hemisphere Media Group, Inc. has a 1-year low of $10.75 and a 1-year high of $13.40. The stock has a 50-day moving average price of $11.90 and a 200 day moving average price of $11.53.
Hemisphere Media Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, June 20th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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HMTV has been the subject of several research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 target price on shares of Hemisphere Media Group in a research report on Tuesday, April 11th. ValuEngine upgraded shares of Hemisphere Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, BidaskClub upgraded shares of Hemisphere Media Group from a “hold” rating to a “buy” rating in a research report on Tuesday.
About Hemisphere Media Group
Hemisphere Media Group, Inc is a Spanish-language media company. As of December 31, 2016, the Company served the United States Hispanic and Latin American markets with five Spanish-language cable television networks distributed in the United States, two Spanish-language cable television networks distributed in Latin America, and a broadcast television network in Puerto Rico.
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