Should Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) investors track the following data?
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Now that that’s out of the way, let’s analyze the recent info about Nexstar Broadcasting Group, Inc. (NASDAQ:NXST).
Hedge fund activity in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)
At the end of the second quarter, a total of 28 of the hedge funds we track held long positions in this stock, a change of 33% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes substantially.
Now, particular hedge funds have been driving this bullishness. SAC Capital Advisors, managed by Steven Cohen, assembled the most outsized position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). SAC Capital Advisors had 48.7 million invested in the company at the end of the quarter. Alexander Mitchell’s Scopus Asset Management also made a $45.9 million investment in the stock during the quarter. The other funds with brand new NXST positions are Jim Simons’s Renaissance Technologies, John Thaler’s JAT Capital Management, and Edward A. Mule’s Silver Point Capital.
What do corporate executives and insiders think about Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)?
Insider buying made by high-level executives is at its handiest when the primary stock in question has seen transactions within the past half-year. Over the latest six-month time period, Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). These stocks are Entravision Communication (NYSE:EVC), Belo Corp. (NYSE:BLC), Central European Media Enterprises Ltd. (NASDAQ:CETV), Fisher Communications, Inc. (NASDAQ:FSCI), and LIN TV Corp (NYSE:TVL). This group of stocks are the members of the broadcasting – tv industry and their market caps resemble NXST’s market cap.
