Strs Ohio grew its position in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,600 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Strs Ohio owned 0.15% of Nexstar Broadcasting Group worth $4,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of NXST. BlackRock Inc. boosted its holdings in Nexstar Broadcasting Group by 118,109.1% during the 1st quarter. BlackRock Inc. now owns 2,975,324 shares of the company’s stock worth $208,720,000 after acquiring an additional 2,972,807 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Nexstar Broadcasting Group during the 2nd quarter worth $73,774,000. Vanguard Group Inc. boosted its holdings in Nexstar Broadcasting Group by 54.3% during the 1st quarter. Vanguard Group Inc. now owns 3,439,610 shares of the company’s stock worth $241,289,000 after acquiring an additional 1,209,744 shares during the last quarter. Royal Bank of Canada boosted its holdings in Nexstar Broadcasting Group by 62.0% during the 2nd quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock worth $64,089,000 after acquiring an additional 410,332 shares during the last quarter. Finally, Beach Point Capital Management LP purchased a new position in Nexstar Broadcasting Group during the 2nd quarter worth $19,587,000.
In related news, Director John R. Muse sold 641,240 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total transaction of $38,538,524.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis Miller sold 4,500 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The disclosure for this sale can be found here. Insiders have sold 977,732 shares of company stock worth $58,618,210 over the last ninety days. 8.40% of the stock is currently owned by insiders.
A number of research firms have issued reports on NXST. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $81.00 price objective (down from $83.00) on shares of Nexstar Broadcasting Group in a report on Thursday, August 10th. BidaskClub raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research raised shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. FBR & Co began coverage on shares of Nexstar Broadcasting Group in a report on Tuesday. They set a “buy” rating and a $79.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $80.10.
Shares of Nexstar Broadcasting Group, Inc. (NASDAQ NXST) opened at 62.80 on Tuesday. The stock’s 50 day moving average price is $60.82 and its 200-day moving average price is $61.67. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90. The company has a market capitalization of $2.90 billion, a PE ratio of 25.83 and a beta of 2.22.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. The company had revenue of $626.11 million for the quarter, compared to analysts’ expectations of $608.23 million. During the same period last year, the firm posted $0.78 earnings per share. Nexstar Broadcasting Group’s revenue was up 139.0% compared to the same quarter last year. On average, equities analysts predict that Nexstar Broadcasting Group, Inc. will post $3.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.91%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 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.
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