Orange Capital Initiates Passive Stake In Nexstar Broadcasting Group Inc. (NXST)

Orange Capital, managed by Daniel Lewis, has initiated a new position in Nexstar Broadcasting Group Inc. (NASDAQ:NXST). A new filing with the Securities and Exchange Commission revealed Orange Capital holding 1.64 million class A shares of the company, representing 5.4% of outstanding stock. The stake is passive by nature.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)

Nexstar Broadcasting Group Inc. (NASDAQ:NXST) is a diversified media company that owns, operates, programs or provides sales and other services to 74 television stations and 13 related digital multicast signals reaching 44 markets or approximately 12.1% of all U.S. television households. The company has a market cap of about $1.2 billion. Recently, the company announced that it promoted Patrick J. Cusick, CPA, to the position of vice president, controller. In addition, it promoted D. Randall Bradford, director of financial operations, to vice president of financial operations. The appointments became effective April 1, 2014.

Last month, Nexstar Broadcasting Group Inc. (NASDAQ:NXST) said that it entered into a definitive agreement to acquire the assets of Internet Broadcasting Systems Inc., a digital publishing platform and digital agency services provider, for $20.0 million.

Other largest shareholders of the company include Richard Barrera’s Roystone Capital Partners and Rob Butts and Josh Clark’s Southpoint Capital Advisors, holding 1.19 million and 1.18 million shares, respectively. In February 2014, Christian Leone’s Luxor Capital Group revealed initiating  stake in Nexstar Broadcasting Group Inc. (NASDAQ:NXST).

In January 2014, Orange Capital disclosed upping its stake in PHH Corporation (NYSE:PHH), owning 3.54 million shares of the company, equal to 6.0% of the common stock. At the end of the fourth quarter of 2013, the fund disclosed ownership of 3.36 million shares. In Strategic Hotels and Resorts Inc (NYSE:BEE), Orange Capital holds 8.30 million shares. The fund reported owning 1.02 million shares of SemGroup Corp (NYSE:SEMG).

Disclosure: none

Recommended Reading:

Bow Street LLC’s Top Picks

Falcon Edge Capital Likes These Stocks

Five Technology Stocks That Hedge Funds Bought Last Month

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!