Teachers Advisors LLC lifted its stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,772 shares of the company’s stock after purchasing an additional 2,112 shares during the period. Teachers Advisors LLC owned 0.17% of Nexstar Broadcasting Group worth $4,890,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of NXST. BlackRock Inc. increased its stake in shares of Nexstar Broadcasting Group by 118,109.1% in the 1st quarter. BlackRock Inc. now owns 2,975,324 shares of the company’s stock worth $208,720,000 after purchasing an additional 2,972,807 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Nexstar Broadcasting Group in the 2nd quarter worth $73,774,000. Vanguard Group Inc. increased its stake in Nexstar Broadcasting Group by 54.3% in the 1st quarter. Vanguard Group Inc. now owns 3,439,610 shares of the company’s stock worth $241,289,000 after buying an additional 1,209,744 shares in the last quarter. FMR LLC increased its stake in Nexstar Broadcasting Group by 52.6% in the 1st quarter. FMR LLC now owns 2,280,054 shares of the company’s stock worth $159,946,000 after buying an additional 785,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Nexstar Broadcasting Group by 45.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,223,810 shares of the company’s stock worth $85,850,000 after buying an additional 384,696 shares in the last quarter.
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Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 61.95 on Wednesday. The firm has a 50-day moving average price of $60.62 and a 200-day moving average price of $62.42. 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 cap of $2.86 billion, a price-to-earnings ratio of 25.48 and a beta of 2.22.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $626.11 million during the quarter, compared to analysts’ expectations of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The company’s quarterly revenue was up 139.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, equities analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 earnings per share for the current year.
In other news, Director John R. Muse sold 229,267 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $59.50, for a total transaction of $13,641,386.50. Following the completion of the sale, the director now owns 4,743 shares of the company’s stock, valued at $282,208.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Muse sold 641,240 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $60.10, for a total transaction of $38,538,524.00. The disclosure for this sale can be found here. Insiders have sold 972,682 shares of company stock valued at $58,308,393 in the last three months. Corporate insiders own 8.40% of the company’s stock.
A number of equities research analysts have issued reports on NXST shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 price target on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wells Fargo & Company reiterated an “outperform” rating and issued a $85.00 price target on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Finally, BidaskClub upgraded Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Nexstar Broadcasting Group currently has a consensus rating of “Buy” and an average price target of $78.71.
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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