Vanguard Group Inc. Has $241.29 Million Stake in Nexstar Broadcasting Group, Inc. (NXST)

Vanguard Group Inc. increased its position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 54.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,439,610 shares of the company’s stock after buying an additional 1,209,744 shares during the period. Vanguard Group Inc. owned about 7.30% of Nexstar Broadcasting Group worth $241,289,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. 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 valued at $127,000 after buying an additional 901 shares during the period. James Investment Research Inc. purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter worth about $153,000. SG Americas Securities LLC increased its stake in shares of 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. Koch Industries Inc. purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter worth about $202,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Nexstar Broadcasting Group during the fourth quarter worth about $209,000.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) traded down 0.48% during mid-day trading on Friday, hitting $61.60. The stock had a trading volume of 513,396 shares. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 28.61 and a beta of 2.31. The stock’s 50-day moving average price is $62.03 and its 200-day moving average price is $64.66. 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 released its earnings results on Tuesday, May 9th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.71. The business had revenue of $540.32 million for the quarter, compared to the consensus estimate of $525.76 million. Nexstar Broadcasting Group had a return on equity of 24.33% and a net margin of 5.47%. The business’s quarterly revenue was up 111.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, analysts predict that Nexstar Broadcasting Group, Inc. will post $3.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.95%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 51.50%.

Nexstar Broadcasting Group declared that its board has authorized a stock repurchase plan on Monday, June 12th that permits the company to repurchase $51.30 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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A number of brokerages have recently issued reports on NXST. BidaskClub downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Wells Fargo & Company restated an “outperform” rating and issued a $85.00 price objective on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. Royal Bank Of Canada restated a “buy” rating and issued a $83.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Finally, ValuEngine upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $78.00.

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.

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

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