Park West Asset Management LLC Increases Position in Nexstar Media Group INC (NXST)

August 9, 2018 - By Catherine Diaz

Nexstar Media Group, Inc. (NASDAQ:NXST) LogoInvestors sentiment decreased to 0.93 in Q1 2018. Its down 0.15, from 1.08 in 2017Q4. It dived, as 30 investors sold NXST shares while 78 reduced holdings. 38 funds opened positions while 62 raised stakes. 49.63 million shares or 0.38% more from 49.44 million shares in 2017Q4 were reported. Voya Investment Management Ltd Liability Com owns 19,690 shares or 0% of their US portfolio. Cardinal Ltd Liability Co Ct holds 1.35 million shares. Tiaa Cref Mngmt Limited Liability Corp holds 106,953 shares. Aperio Grp Inc Ltd holds 0% in Nexstar Media Group, Inc. (NASDAQ:NXST) or 6,590 shares. 1.26 million are owned by National Bank Of Ny Mellon. Weiss Multi reported 50,000 shares. The Illinois-based Envestnet Asset Mngmt Inc has invested 0% in Nexstar Media Group, Inc. (NASDAQ:NXST). Point72 Asset Mngmt Lp, Connecticut-based fund reported 182,520 shares. Symphony Asset Limited Liability Co reported 10,578 shares. Virtu Fincl Ltd Liability owns 5,358 shares or 0.02% of their US portfolio. Cwm Limited Com invested 0% in Nexstar Media Group, Inc. (NASDAQ:NXST). Fortaleza Asset Management invested in 1,135 shares or 0.46% of the stock. 182,243 were reported by Nomura Holdings. Citigroup has invested 0% of its portfolio in Nexstar Media Group, Inc. (NASDAQ:NXST). Ruggie Cap Grp Incorporated holds 16 shares or 0% of its portfolio.

Since June 11, 2018, it had 0 insider purchases, and 3 insider sales for $473,516 activity. $158,227 worth of Nexstar Media Group, Inc. (NASDAQ:NXST) was sold by JONES BRIAN.

Park West Asset Management Llc increased its stake in Nexstar Media Group Inc (NXST) by 144.44% based on its latest 2018Q1 regulatory filing with the SEC. Park West Asset Management Llc bought 1.21M shares as the company’s stock declined 9.15% with the market. The hedge fund held 2.04 million shares of the consumer services company at the end of 2018Q1, valued at $135.91 million, up from 836,080 at the end of the previous reported quarter. Park West Asset Management Llc who had been investing in Nexstar Media Group Inc for a number of months, seems to be bullish on the $3.52 billion market cap company. The stock increased 1.12% or $0.85 during the last trading session, reaching $76.85. About 998,219 shares traded or 37.54% up from the average. Nexstar Media Group, Inc. (NASDAQ:NXST) has risen 16.52% since August 9, 2017 and is uptrending. It has outperformed by 3.95% the S&P500.

Park West Asset Management Llc, which manages about $1.77B and $2.25 billion US Long portfolio, decreased its stake in Blucora Inc (NASDAQ:BCOR) by 418,217 shares to 1.07 million shares, valued at $26.38M in 2018Q1, according to the filing. It also reduced its holding in Activision Blizzard Inc (NASDAQ:ATVI) by 440,000 shares in the quarter, leaving it with 210,000 shares, and cut its stake in National Gen Hldgs Corp (Call) (NASDAQ:NGHC).

More notable recent Nexstar Media Group, Inc. (NASDAQ:NXST) news were published by: Streetinsider.com which released: “Nexstar Broadcasting (NXST) Agrees to Acquire KRBK-TV Serving Springfield, MO and WHDF-TV Serving Huntsville …” on August 02, 2018, also Seekingalpha.com with their article: “Broadcasters rise as court backs FCC” published on July 25, 2018, Seekingalpha.com published: “Nexstar Media Group (NXST) Q2 2018 Results – Earnings Call Transcript” on August 08, 2018. More interesting news about Nexstar Media Group, Inc. (NASDAQ:NXST) were released by: Streetinsider.com and their article: “Apollo Approached Nexstar Broadcasting (NXST) About a Potential Takeover – Reuters” published on July 11, 2018 as well as Streetinsider.com‘s news article titled: “Nexstar Broadcasting Group (NXST) PT Raised to $94 at Stephens” with publication date: August 09, 2018.

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

Among 3 analysts covering Nexstar (NASDAQ:NXST), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Nexstar has $105.0 highest and $87 lowest target. $93.33’s average target is 21.44% above currents $76.85 stock price. Nexstar had 3 analyst reports since February 14, 2018 according to SRatingsIntel. The stock of Nexstar Media Group, Inc. (NASDAQ:NXST) earned “Buy” rating by Guggenheim on Wednesday, February 14.

Nexstar Media Group, Inc. (NASDAQ:NXST) Institutional Positions Chart

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