Hemisphere Media Group Announces New Share Repurchase Program

On August 16, Hemisphere Media Group, Inc. (HMTV) announced that its Board of Directors has authorized a new $25 million share repurchase program. The new share repurchase authorization is an addition to the company’s existing $25 million share repurchase program. Hemisphere Media Group is the only U.S. media company solely focusing on the U.S. Hispanic market and Latin American market.

 

Sonal detected the news and alerted subscribers about the event at 7:30 am. The next trade took place at the market open for $12.90. The stock price increased throughout the day to gain 5% and close at $13.55.

 

The stock price continued to trade around the event-day closing price over the next five trading sessions, which provided investors plenty of time to take their profits. Hemisphere Media closed at $13.35 on August 23 for a 3.5% gain from the announcement.

Visit the Knowledge Center to learn more about trading share repurchases and buybacks.

To see the latest weekly webinar, you can visit our Live Webinar page.

Subscribe here if you would like to start receiving these signals in real-time and start trading!