First Quadrant L P CA Maintains Position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)

First Quadrant L P CA held its position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,579 shares of the company’s stock at the end of the second quarter. First Quadrant L P CA’s holdings in Nexstar Broadcasting Group were worth $334,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nexstar Broadcasting Group by 98.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after buying an additional 901 shares during the last quarter. Blueport Capital L.P. acquired a new stake in Nexstar Broadcasting Group during the first quarter worth approximately $140,000. Invictus RG acquired a new stake in Nexstar Broadcasting Group during the first quarter worth approximately $149,000. James Investment Research Inc. acquired a new stake in Nexstar Broadcasting Group during the first quarter worth approximately $153,000. Finally, SG Americas Securities LLC increased its stake in Nexstar Broadcasting Group by 48.4% in the first quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock worth $185,000 after buying an additional 859 shares during the last quarter.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ NXST) opened at 60.00 on Friday. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90. The stock’s 50 day moving average is $62.89 and its 200-day moving average is $64.61. The firm has a market cap of $2.77 billion, a P/E ratio of 24.68 and a beta of 2.31.

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

Nexstar Broadcasting Group announced that its board has initiated a stock repurchase program on Monday, June 12th that allows the company to buyback $51.30 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, August 9th. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is 48.78%.

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A number of analysts have commented on NXST shares. ValuEngine downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 price objective on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, May 5th. Wells Fargo & Company restated an “outperform” rating and set a $85.00 price target on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Finally, BidaskClub upgraded shares of Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Nexstar Broadcasting Group currently has an average rating of “Buy” and a consensus target price of $77.75.

In related news, CFO Thomas Carter sold 3,125 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the transaction, the chief financial officer now owns 67,836 shares of the company’s stock, valued at $4,307,586. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Miller sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was 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 7.80% of the company’s stock.

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.

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

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