Luxor Capital Group Acquires 383,500 Shares of Hemisphere Media Group Inc (HMTV)

Luxor Capital Group, led by Christian Leone, revealed an increased stake in Hemisphere Media Group Inc (NASDAQ:HMTV). The fund currently owns 5.13 million Class A shares – 42.30% of the company’s common stock, after a recent acquisition of 383,500 shares for a lump sum of $4.12 million.

Christian Leone

Head­quar­tered in Miami, Florida, Hemisphere Media Group Inc (NASDAQ:HMTV) is a pub­licly traded media company operating in the His­panic television/cable net­works and con­tent business. On April 22, 2013 the company announced that its stock would commence trading  on the NASDAQ Global Market the next day, after a $400.00 million merger of an investment company and three television networks: Cinelatino, WAPA Amer­ica, and WAPA TV, each focused on the US Hispanic population.

Spiking around 50% from $10.00 to $15.00 per share in the first month after its IPO, the company’s stock currently trades at $12.72 per share. In its 2013 full year financial results press release Hemisphere announced net revenues of $86.00 million, approximately 21.00% higher than the result for the previous year, and a respective net loss of $4.30 million. Also, Hemisphere’s CEO, Alan Sokol, noted that the “results underscore both the strength and unique position of the company’s platform” and that the company “continued to demonstrate robust growth of its retransmission and subscriber fees”. Hemisphere Media Group Inc (NASDAQ:HMTV)  is expected to generate earnings of $0.41 per share in 2014, and $0.56 in 2015. The mean analyst recommendation for the company’s stock is “Buy”.

Quincy Lee‘s Ancient Art (Teton Capital) and Mark Stupfel‘s Cortex Capital Management are two other large holders of Hemisphere Media’s common stock, with positions of 751,000 shares worth $8.91 million and 200,000 shares worth $2.37 million, respectively.

Luxor Capital Group owns a diversified equity portfolio with an equivalent total value of $6.25 billion. The fund holds a position of almost 5.00 million shares worth $287.59 million in The Madison Square Garden Co (NASDAQ:MSG). Northstar Realty Finance Corp. (NYSE:NRF) represents another of the fund’s considerable equity investments, with a position of 19.54 million shares worth $262.87 million.

Disclosure: none

Recommended Reading:

Christian Leone is Bullish on Lamar Advertising Co (LAMR) and Raises Stake to 5%

Luxor Capital Adds More Shares to Its Activist Stake in BJ’s Restaurants, Inc. (BJRI)

Buffett’s Berkshire Converts Notes Worth $56 Mln into Shares of USG Corporation (USG)

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