The stock of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) posted strong gains of 10.89% during the first quarter. In February, the $1.83 billion broadcasting company acquired the ad firm Yashi for $33 million. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has announced earlier this month that it set up offices in 18 markets to promote its marketing and branding services for small and medium sized businesses. Orange Capital’s stake in the company amounted to 1.65 million shares valued at $85.36 million. Two other prominent stockholders of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) are Christian Leone‘s Luxor Capital and Richard Barrera’s Roystone Capital Partners.
IAC/InterActiveCorp (NASDAQ:IACI)’s stock also posted a double-digit growth of 11.61% for January-March. Lewis increased his fund’s stake in the company by 92% during the fourth quarter to 1.08 million shares valued at $65.58 million. The New York City-based company receives over 2.4 billion visitors on its websites, which operate in diverse segments, including search, online dating media, and e-commerce. Tinder, which is one of IAC/InterActiveCorp (NASDAQ:IACI)’s platforms, has recently hired the former head of eay’s North American marketplaces as its CEO. Earlier this year, the dating mobile app also recently launched a subscription service that allows users to find suitable matches outside their geographical region. Eric Bannash‘s Cadian Capital increased its stake in IAC/InterActiveCorp (NASDAQ:IACI) by 145% during the fourth quarter to 3.08 million shares.
The stock of Pinnacle Entertainment, Inc (NYSE:PNK) jumped by 62.2% during the first quarter. According to The Wall Street Journal, Gaming and Leisure Properties Inc (NASDAQ:GLPI) boosted its bid for Pinnacle Entertainment, Inc (NYSE:PNK)’s real estate assets this week to $40 per share compared to the earlier $36 per share offer. The company has a limited time to respond to it. Pinnacle is being hunted by Gaming and Leisure for three months now. Orange Capital held the third highest stake in Pinnacle Entertainment, Inc (NYSE:PNK) with 2.6 million shares valued at $57.35 million, according to our database of hedge funds. Lewis has also been a vehement supporter of GLPI’s offer from the start. The largest stockholder of the company was Parag Vora’s HG Vora Capital Management with 5.5 million shares valued at $122.38 million.
Our last candidate, Abengoa Yield PLC (NASDAQ:ABY), which held its IPO in June last year, also posted hefty first quarter returns of 24.6%. Lewis’ fund initiated a position in the company during the fourth quarter with 1.9 million shares valued at $51.97 million. In its financial results for the 2014 fiscal year, Abengoa Yield PLC (NASDAQ:ABY) posted a 72% year on year revenue increase to $362.69 million. Loss for the year stood at $29.27 million as compared to last year’s loss of $1.86 million. Bart Baum’s Ionic Capital Management also held some 298,800 shares valued at $8.16 million in the company.
Disclosure: None
