First National Bank of Omaha cut its stake in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 29.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,011 shares of the company’s stock after selling 8,340 shares during the period. First National Bank of Omaha’s holdings in Nexstar Broadcasting Group were worth $1,197,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of NXST. ProShare Advisors LLC boosted its position in shares of Nexstar Broadcasting Group by 4.3% in the first quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock valued at $351,000 after buying an additional 207 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Nexstar Broadcasting Group by 38.3% in the first quarter. Nationwide Fund Advisors now owns 25,884 shares of the company’s stock valued at $1,816,000 after buying an additional 7,164 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Nexstar Broadcasting Group during the first quarter valued at approximately $153,000. Capital Impact Advisors LLC boosted its position in shares of Nexstar Broadcasting Group by 43.5% in the first quarter. Capital Impact Advisors LLC now owns 27,634 shares of the company’s stock valued at $1,939,000 after buying an additional 8,371 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in shares of Nexstar Broadcasting Group by 186.5% in the first quarter. Fox Run Management L.L.C. now owns 10,600 shares of the company’s stock valued at $744,000 after buying an additional 6,900 shares during the last quarter.
Shares of Nexstar Broadcasting Group, Inc. (NASDAQ NXST) traded down 0.15% during midday trading on Friday, hitting $64.55. 662,906 shares of the company traded hands. Nexstar Broadcasting Group, Inc. has a 52 week low of $47.00 and a 52 week high of $73.90. The stock has a market capitalization of $3.05 billion, a PE ratio of 29.98 and a beta of 2.30. The stock has a 50 day moving average of $60.55 and a 200-day moving average of $64.46.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its earnings results on Tuesday, May 9th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.71. The business had revenue of $540.32 million for the quarter, compared to the consensus estimate of $525.76 million. Nexstar Broadcasting Group had a net margin of 5.47% and a return on equity of 24.33%. Nexstar Broadcasting Group’s quarterly revenue was up 111.3% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. Equities analysts forecast that Nexstar Broadcasting Group, Inc. will post $3.30 earnings per share for the current fiscal year.
Nexstar Broadcasting Group announced that its Board of Directors has authorized a share repurchase plan on Monday, June 12th that authorizes the company to repurchase $51.30 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Wells Fargo & Company restated an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. ValuEngine upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $78.00.
In related news, Director John R. Muse sold 38,631 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $70.10, for a total value of $2,708,033.10. Following the sale, the director now directly owns 7,141 shares of the company’s stock, valued at $500,584.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.80% of the company’s stock.
Nexstar Broadcasting Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, 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, and digital media services in medium-sized markets in the United States.
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