Filing of The Day: Nexstar Broadcasting Group Inc Has Another Bullish Trade, Peter S. Park’s Park West Asset Management Llc Bought Stake!

Filing of The Day: Nexstar Broadcasting Group Inc Has Another Bullish Trade, Peter S. Park's Park West Asset Management Llc Bought Stake!

The New Peter S. Park’s Park West Asset Management Llc Holding in Nexstar Broadcasting Group Inc

Park West Asset Management Llc filed with the SEC SC 13G form for Nexstar Broadcasting Group Inc. The form can be accessed here: 000121465916014630. As reported in Peter S. Park’s Park West Asset Management Llc’s form, the filler as of late owns 5.5% or 1,730,300 shares of the Consumer Discretionary–company.

Nexstar Broadcasting Group Inc stake is a new one for the for the hedge fund and it was filed because of activity on November 1, 2016. We feel this shows Peter S. Park’s Park West Asset Management Llc’s positive view for the stock. For a hedge fund managing $1.77 billion in assets and having 14+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Peter S. Park’s Park West Asset Management Llc’s US equities portfolio is in this sector.

Nexstar Broadcasting Group Inc Institutional Sentiment

Latest Security and Exchange filings show 138 investors own Nexstar Broadcasting Group Inc. The institutional ownership in Q3 2015 is high, at 98.23% of the outstanding shares. This is decreased by 1817835 the total institutional shares. 30155396 were the shares owned by these institutional investors. In total 30 funds opened new Nexstar Broadcasting Group Inc stakes, 56 increased stakes. There were 22 that closed positions and 40 reduced them.

6 managers had the stock in their top Ten. Notable investors are: Simcoe Capital Management Llc, Tiger Legatus Capital Management Llc, Yost Capital Management L.L.C., Msd Partners L.P., Skytop Capital Management Llc, Penn Capital Management Co Inc, Act Ii Management Lp, Brenner West Capital Advisors Llc..

Msdc Management Lp is an institutional investor bullish on Nexstar Broadcasting Group Inc, owning 3033570 shares as of Q3 2015 for 4.73% of its portfolio. Scott A. Bedford Penn Capital Management Co Inc owns 497737 shares or 1.24% of its portfolio. MO Scout Investments Inc have 0.01% of their stock portfolio for 4699 shares. Further, Simcoe Capital Management Llc reported stake worth 13.62% of its US stock portfolio. The TX Hodges Capital Management Inc owns 100000 shares. Nexstar Broadcasting Group Inc is 0.19% of the manager’s US portfolio.

Business Profile

Nexstar Broadcasting Group, Inc. (Nexstar) is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other. The broadcast segment includes television stations and related community focused Websites that Nexstar owns, operates, programs or provides sales and other services to in various markets across the United States. The Company owns, operates, programs or provides sales and other services to approximately 100 full power television stations in over 60 markets in the states of Alabama, Arizona, Florida, Illinois, Maryland, Michigan, Missouri and Montana, among others. Its digital media businesses provide digital publishing and content management platforms, a digital video advertising platform and other digital media solutions to media publishers and advertisers.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Peter S. Park’s Park West Asset Management Llc website.

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.79, from 1.82 in 2016Q1. The ratio is negative, as 18 funds sold all Nexstar Broadcasting Group, Inc. shares owned while 59 reduced positions. 21 funds bought stakes while 58 increased positions. They now own 36.06 million shares or 0.10% more from 36.02 million shares in 2016Q1.

Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management holds 0.03% or 50,140 shares in its portfolio. Ameriprise Inc last reported 0% of its portfolio in the stock. Quantitative Investment Mgmt Ltd Llc last reported 9,200 shares in the company. The Washington-based Parametric Port Assocs Lc has invested 0.01% in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). Los Angeles Cap Mngmt And Equity holds 0% or 11,540 shares in its portfolio. Pacad Invest Limited holds 0.03% or 4,400 shares in its portfolio. Orinda Asset Mngmt accumulated 6,115 shares or 0.3% of the stock. Wells Fargo Co Mn holds 84,303 shares or 0% of its portfolio. Alliancebernstein Limited Partnership has 0% invested in the company for 54,890 shares. Waratah Cap Advsr has 0.66% invested in the company for 68,080 shares. Moreover, Teachers Advsrs has 0% invested in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) for 47,550 shares. Moreover, Tudor Invest Corp Et Al has 0.01% invested in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) for 13,481 shares. Act Ii Mngmt Limited Partnership has invested 5.67% of its portfolio in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). Moreover, Swiss Bancorporation has 0% invested in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) for 51,300 shares. The Pennsylvania-based Emerald Mutual Fund Advisers Trust has invested 1.05% in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST).

Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 2 sales for $587,479 net activity. Shares for $63,679 were sold by Carter Thomas on Thursday, August 11. Shares for $523,800 were sold by Russell Blake on Thursday, August 11.

About 1.31 million shares traded hands or 81.59% up from the average. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has risen 26.98% since April 12, 2016 and is uptrending. It has outperformed by 21.99% the S&P500.

Nexstar Broadcasting Group, Inc. is a television broadcasting and digital media company. The company has a market cap of $1.98 billion. The Firm is focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. It has a 19.47 P/E ratio. The Company’s divisions include Broadcasting and Other.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Ratings Coverage

Out of 3 analysts covering Nexstar Broadcasting Group (NASDAQ:NXST), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $79 is the highest target while $60 is the lowest. The $63.20 average target is 4.45% above today’s ($60.51) stock price. Nexstar Broadcasting Group has been the topic of 10 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, November 18 by Stephens. The firm has “Buy” rating by Jefferies given on Tuesday, September 29. Wedbush maintained it with “Outperform” rating and $66 target price in Wednesday, November 9 report. The stock of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has “Hold” rating given on Wednesday, August 5 by Zacks. Barrington Research maintained the shares of NXST in a report on Monday, November 14 with “Outperform” rating. The firm has “Outperform” rating given on Tuesday, December 22 by Barrington Research.

More important recent Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) news were published by: Prnewswire.com which released: “In Largest Multicast Network Distribution Launch in History, Nexstar …” on June 15, 2016, also Businesswire.com published article titled: “Nexstar Broadcasting Group Enters into Definitive Agreement to Acquire Media …”, Businesswire.com published: “Nexstar Broadcasting to Webcast Fireside Chat at Goldman Sachs Communacopia …” on September 21, 2016. More interesting news about Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) was released by: Forbes.com and their article: “Ex-Dividend Reminder: Costco Wholesale, Nexstar Broadcasting Group and WEC …” with publication date: August 08, 2016.

According to Zacks Investment Research, “Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN.”

NXST Company Profile

Nexstar Broadcasting Group, Inc. (Nexstar), incorporated on May 17, 2001, is a television broadcasting and digital media company. The Firm is focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. The Company’s divisions include Broadcasting and Other. The Company’s broadcast segment includes television stations and related community focused Websites that Nexstar owns, operates, programs or provides sales and other services to in various markets across the United States. The Firm owns, operates, programs or provides sales and other services to approximately 100 full power television stations in over 60 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, Missouri, Montana, Nevada, New York, Pennsylvania, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia and Wisconsin.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment