6,800 Shares in Nexstar Broadcasting Group, Inc. (NXST) Purchased by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. acquired a new stake in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,800 shares of the company’s stock, valued at approximately $407,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. BlackRock Inc. raised its stake in shares of Nexstar Broadcasting Group by 118,109.1% during the 1st quarter. BlackRock Inc. now owns 2,975,324 shares of the company’s stock valued at $208,720,000 after buying an additional 2,972,807 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Nexstar Broadcasting Group during the 2nd quarter valued at about $73,774,000. Vanguard Group Inc. raised its stake in shares of Nexstar Broadcasting Group by 54.3% during the 1st quarter. Vanguard Group Inc. now owns 3,439,610 shares of the company’s stock valued at $241,289,000 after buying an additional 1,209,744 shares during the last quarter. FMR LLC raised its stake in shares of Nexstar Broadcasting Group by 52.6% during the 1st quarter. FMR LLC now owns 2,280,054 shares of the company’s stock valued at $159,946,000 after buying an additional 785,601 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Nexstar Broadcasting Group by 36.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,612,829 shares of the company’s stock valued at $113,141,000 after buying an additional 430,438 shares during the last quarter.

NXST has been the subject of a number of recent research reports. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and issued a $83.00 price target on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. Zacks Investment Research lowered Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $77.00.

In other Nexstar Broadcasting Group news, CFO Thomas Carter sold 3,125 shares of the stock in a transaction dated 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 directly owns 67,836 shares of the company’s stock, valued at $4,307,586. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dennis Miller sold 4,500 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $63.49, for a total transaction of $285,705.00. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “6,800 Shares in Nexstar Broadcasting Group, Inc. (NXST) Purchased by Icon Advisers Inc. Co.” was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://sportsperspectives.com/2017/09/19/6800-shares-in-nexstar-broadcasting-group-inc-nxst-purchased-by-icon-advisers-inc-co.html.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 59.95 on Tuesday. Nexstar Broadcasting Group, Inc. has a 52 week low of $47.00 and a 52 week high of $73.90. The company has a 50 day moving average price of $61.37 and a 200 day moving average price of $63.43. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 24.66 and a beta of 2.27.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm 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 firm’s revenue for the quarter was up 139.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Analysts expect that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current fiscal year.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.20 annualized dividend and a yield of 2.00%. Nexstar Broadcasting Group’s dividend payout ratio is currently 48.78%.

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.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Broadcasting Group, Inc. (NASDAQ:NXST).

Institutional Ownership by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Broadcasting Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Broadcasting Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply