Bronfman E.L. Rothschild L.P. Purchases New Stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST)

Bronfman E.L. Rothschild L.P. purchased a new position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,421 shares of the company’s stock, valued at approximately $145,000.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nexstar Broadcasting Group by 98.4% in the 1st 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. bought a new stake in shares of Nexstar Broadcasting Group in the 1st quarter worth about $140,000. Invictus RG bought a new stake in shares of Nexstar Broadcasting Group in the 1st quarter worth about $149,000. SG Americas Securities LLC increased its holdings 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 worth $185,000 after buying an additional 859 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Nexstar Broadcasting Group in the 1st quarter worth about $202,000.

In related news, CFO Thomas Carter sold 3,125 shares of the 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 sale, the chief financial officer now owns 67,836 shares of the company’s stock, valued at approximately $4,307,586. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Pruett sold 3,000 shares of the 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. Over the last quarter, insiders have sold 102,175 shares of company stock worth $6,128,482. Insiders own 7.80% of the company’s stock.

NXST has been the topic of a number of research reports. 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 restated a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Wells Fargo & Company reiterated an “outperform” rating and set a $85.00 price target on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Finally, Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.00.

Shares of Nexstar Broadcasting Group, Inc. (NXST) opened at 59.50 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of 24.48 and a beta of 2.27. The firm has a 50-day moving average of $61.21 and a 200 day moving average of $63.34. Nexstar Broadcasting Group, Inc. has a 52-week low of $47.00 and a 52-week high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.01. The business had revenue of $626.11 million for the quarter, compared to analyst estimates 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 revenue was up 139.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Equities research analysts forecast that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current fiscal year.

Nexstar Broadcasting Group announced that its Board of Directors has initiated a stock buyback plan on Monday, June 12th that permits the company to repurchase $51.30 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. Nexstar Broadcasting Group’s payout ratio is currently 48.78%.

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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.

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

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