Business

Notable News Spotlight: Hemisphere Media Group (NASDAQ:HMTV)

On Tuesday Hemisphere Media Group (NASDAQ:HMTV) stock price moved down at -2.18%. Its total market capitalization is $514717095. Its day lowest price was $12.38 and its hit its day highest price at $13.16. The stock recent volume is 27663 shares in comparison to its average trading volume of 20677 shares. Looking at the stock’s price level on the past 52-week graph, HMTV recorded a 52-week high of $15.26 and its 52-week low of $ISTR.

On Nov. 5, 2019, Hemisphere Media Group (NASDAQ:HMTV) the only publicly traded pure-play U.S. media company targeting the high-growth U.S. Hispanic and Latin American markets with leading broadcast and cable television and digital content platforms, declared financial results for the third quarter ended September 30, 2019.

President and Chief Executive Officer of Hemisphere, Alan Sokol, said During the quarter, our networks in the U.S. and Puerto Rico maintained and expanded on their leadership positions, as we continue to provide unique and fresh content for our fast-growing target audiences. We also continue to diversify our businesses by monetizing our valuable content with new licensing revenue streams and building a powerful streaming service for the Spanish-speaking world.

While Puerto Rico’s economy is stable, advertising spending was negatively impacted by the political unrest on the island during the summer that ultimately resulted in the resignation of the Governor. With a new Governor installed, calmness and confidence are returning to the market. We are beginning to see advertising return to normal spending levels, which will benefit WAPA, as the clear ratings leader in the market. We continue to believe that the future inflow of federal funds will further drive restoration and growth in Puerto Rico.

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