The shares of Grupo Televisa SAB (ADR) (NYSE:TV) are down 6.18%, as the media company has once again fallen short of the market’s expectations. The entertainment company has reported net sales of $1.33 billion for the second quarter of 2015 with net income of $82 million. The Mexican firm announced 8.5% year-over-year growth in its net sales, whereas its net income declined by 40% during the second quarter. One of the primary reasons for the poor quarterly results was the decline of 16.4% in the advertising revenue of Grupo Televisa. It is important to consider that the media company has fallen short of the market’s earnings expectations in each of the last four quarters. The shares of Grupo Televisa SAB (ADR) (NYSE:TV) are up by 15.92% year-to-date nonetheless, indicating a substantial optimism despite continual underperformance.
It appears the smart money wasn’t as convinced as other investors in the prospects of the company, as they were somewhat bearish on the stock of the entertainment company during the first quarter of the year. At the end of the first quarter, 25 hedge fund managers held $2.24 billion of the company’s shares, down from $2.30 billion in shares that 27 investors we track held at the end of 2014. Nonetheless, it appears the market optimism outshone hedge funds’ apathy, as shares soared in the second quarter despite another earnings miss being announced during that period.
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The insiders at Grupo Televisa SAB (ADR) (NYSE:TV) have remained inactive for the past six months with no insider transactions. Insider activity is a powerful indicator of the latest sentiment among the top executives of a company.
With all of this in mind, let’s take a peek at the key action regarding Grupo Televisa SAB (ADR) (NYSE:TV).