Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Wexford Capital Discloses 5.86% Stake in Hemisphere Media Group, Inc.

Charles Davidson’s Wexford Capital disclosed a 5.86% passive stake in Hemisphere Media Group, Inc. (NASDAQ:HMTV) in a recent filing with the SEC. The 710,641 shares obtained represent a new holding for Wexford, which did not report ownership of Hemisphere shares in its latest 13F filing.

The Greenwich, Connecticut-based Wexford Capital was founded in 1994, and manages several funds and private equity portfolios. Their equity portfolio was valued at $1.09 billion as of September 30, and features a good deal of turnover; they opened 57 positions during the third quarter of 2014, the largest being in Delta Air Lines, Inc. (NYSE:DAL), Magna International Inc. (USA) (NYSE:MGA) and Lear Corporation (NYSE:LEA). On the other hand, they closed their positions in 56 stocks during the same quarter.

Charles Davidson - Wexford Capital

Hemisphere Media Group, Inc. (NASDAQ:HMTV) is a $151 million market cap entertainment company which specializes in Spanish-language entertainment properties for U.S citizens. Among Hemisphere’s brands are the cable movie network Cine Latino, with 12 million subscribers across the U.S, Canada, and Latin America; WAPA and its U.S counterpart WAPA America, which provides Puerto Rico-centric news and entertainment, and Pasiones, a telenovella and drama series-focused channel. Hemisphere has experienced strong growth thanks to the rapidly growing Spanish-speaking population in the U.S, which is now estimated to be at 45 million as of 2012, nearly 15% of the total population.

On January 21, Hemisphere Media Group, Inc. (NASDAQ:HMTV) announced a partnership with TLN Telelatino Network, a Canadian Spanish-languahe superstation. The partnership with TLN will result in three of Hemisphere’s channels making their way to Canada to join Cine Latino: WAPA America, Television Dominicana, and Centroamerica TV. Like the U.S, Canada also has a growing base of Spanish-speaking citizens, now standing at 1.6 million, or about 5% of the population.

As Wexford’s filing was back-dated to December 31, the latest deal had no bearing on their fourth quarter buying spree. Instead, Wexford is likely impressed with the company’s previous acquisitions and growth, which included launching three of their stations on Cablevision Systems Corporation (NYSE:CVC)s Optimum TV in the New York tri-state area back in December. Hemisphere’s stock is up 17% since the start of the fourth quarter, 2014.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.