Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,065 shares of the company’s stock, valued at approximately $337,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NXST. Teacher Retirement System of Texas increased its position in shares of Nexstar Broadcasting Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,285 shares of the company’s stock valued at $204,000 after buying an additional 518 shares in the last quarter. LPL Financial LLC bought a new stake in Nexstar Broadcasting Group during the first quarter worth $226,000. Fox Run Management L.L.C. bought a new stake in Nexstar Broadcasting Group during the second quarter worth $281,000. Acrospire Investment Management LLC bought a new stake in Nexstar Broadcasting Group during the first quarter worth $272,000. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Nexstar Broadcasting Group during the first quarter worth $298,000.
Shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded up 2.73% during mid-day trading on Wednesday, hitting $54.96. 158,945 shares of the company traded hands. The stock has a market capitalization of $1.69 billion, a PE ratio of 19.27 and a beta of 2.04. The firm’s 50 day moving average price is $53.13 and its 200-day moving average price is $50.67. Nexstar Broadcasting Group Inc. has a 1-year low of $34.65 and a 1-year high of $61.79.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a net margin of 9.12% and a return on equity of 89.87%. The business had revenue of $261.99 million for the quarter, compared to the consensus estimate of $265.19 million. During the same period in the prior year, the business posted $0.63 EPS. Nexstar Broadcasting Group’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts forecast that Nexstar Broadcasting Group Inc. will post $3.98 EPS for the current year.
A number of analysts have weighed in on NXST shares. Zacks Investment Research cut shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Finally, Wells Fargo & Co. reaffirmed a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Nexstar Broadcasting Group presently has an average rating of “Buy” and an average target price of $66.38.
In related news, CFO Thomas Carter sold 1,236 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.52, for a total transaction of $63,678.72. Following the transaction, the chief financial officer now owns 67,836 shares of the company’s stock, valued at approximately $3,494,910.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Blake Russell sold 10,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $52.38, for a total transaction of $523,800.00. Following the transaction, the senior vice president now directly owns 27,861 shares in the company, valued at approximately $1,459,359.18. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
Nexstar Broadcasting Group Company Profile
Nexstar Broadcasting Group, Inc (Nexstar) is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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