5 Best Entertainment Stocks to Buy

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In this article, we discuss the 11 best entertainment stocks to buy. To read a detailed analysis of the entertainment industry, go directly to 11 Best Entertainment Stocks to Buy.

5. Nexstar Media Group, Inc. (NASDAQ:NXST)

Number of Hedge Fund Holders: 33

Nexstar Media Group, Inc. (NASDAQ:NXST) is the largest television station owner in the US. In early October, the company announced the acquisition of 75% of the CW Network’s stake from Warner Bros. Discovery, Inc. (NASDAQ:WBD) and Paramount Global (NASDAQ:PARA). The acquisition is expected to consolidate and increase Nexstar Media Group, Inc. (NASDAQ:NXST)’s exposure to the national advertising market and create new revenue-generating opportunities.

Nexstar Media Group, Inc. (NASDAQ:NXST)’s Next Gen TV or ATSC 3.0 is also an excellent growth catalyst for the company. The Next Gen TV includes more channels and better sound, quality, reception, and mobile viewing. The company expects that half of the television users in the US will have acquired the technology by the end of 2022 and the technology has the potential to increase the customer base for the company.

On September 9, Rosenblatt analyst Barton Crockett upgraded Nexstar Media Group, Inc. (NASDAQ:NXST) to Buy from Hold and raised his price target to $246 from $181.

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