Nexstar Broadcasting Group, Inc. (NXST) Stake Lowered by BlackRock Inc.

BlackRock Inc. cut its stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,782,831 shares of the company’s stock after selling 192,493 shares during the quarter. BlackRock Inc. owned 5.89% of Nexstar Broadcasting Group worth $166,413,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NXST. Thompson Siegel & Walmsley LLC bought a new stake in shares of Nexstar Broadcasting Group in the 2nd quarter valued at about $125,000. Blueport Capital L.P. bought a new stake in shares of Nexstar Broadcasting Group in the 1st quarter valued at about $140,000. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Nexstar Broadcasting Group in the 2nd quarter valued at about $145,000. Invictus RG bought a new stake in shares of Nexstar Broadcasting Group in the 1st quarter valued at about $149,000. Finally, SG Americas Securities LLC increased its stake in shares of Nexstar Broadcasting Group by 48.4% in the 1st quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock valued at $185,000 after acquiring an additional 859 shares during the last quarter.

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Several brokerages recently issued reports on NXST. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. BidaskClub lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. ValuEngine upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $85.00 price objective on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.71.

In other news, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.49, for a total transaction of $285,705.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Pruett sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $60.01, for a total transaction of $180,030.00. Following the sale, the insider now directly owns 11,985 shares of the company’s stock, valued at approximately $719,219.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 972,682 shares of company stock valued at $58,308,393. Insiders own 7.80% of the company’s stock.

Nexstar Broadcasting Group, Inc. (NXST) opened at 61.65 on Thursday. The company has a 50 day moving average price of $60.65 and a 200 day moving average price of $62.42. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 25.36 and a beta of 2.22. Nexstar Broadcasting Group, Inc. has a 12 month low of $47.00 and a 12 month high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $626.11 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.78 EPS. Analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 earnings per share for the current fiscal year.

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

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