Nexstar Broadcasting Group, Inc. (NXST) CFO Thomas Carter Sells 3,125 Shares of Stock

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) CFO Thomas Carter sold 3,125 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.50, for a total value of $198,437.50. Following the completion of the transaction, the chief financial officer now owns 67,836 shares in the company, valued at $4,307,586. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 62.95 on Wednesday. The firm has a market capitalization of $2.91 billion, a PE ratio of 25.89 and a beta of 2.31. The company’s 50-day moving average price is $62.83 and its 200 day moving average price is $64.69. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $626.11 million during the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. The firm’s quarterly revenue was up 139.0% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, analysts forecast that Nexstar Broadcasting Group, Inc. will post $3.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, August 9th. Nexstar Broadcasting Group’s payout ratio is currently 48.78%.

Nexstar Broadcasting Group declared that its Board of Directors has initiated a share repurchase plan on Monday, June 12th that permits the company to buyback $51.30 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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Several research analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $81.00 target price (down from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday, August 10th. BidaskClub upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. 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 restated 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, ValuEngine upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Nexstar Broadcasting Group has a consensus rating of “Buy” and an average price target of $77.75.

A number of institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its position in shares of Nexstar Broadcasting Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock worth $408,000 after buying an additional 18 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Nexstar Broadcasting Group by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock valued at $214,000 after buying an additional 99 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Nexstar Broadcasting Group by 0.6% in the second quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock valued at $1,394,000 after buying an additional 131 shares in the last quarter. ProShare Advisors LLC raised its stake in 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 in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Nexstar Broadcasting Group by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,630 shares of the company’s stock valued at $465,000 after buying an additional 311 shares in the last quarter.

About Nexstar Broadcasting Group

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.

Insider Buying and Selling by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

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