Nexstar Broadcasting Group, Inc. (NXST) Position Raised by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 54.3% during the first quarter, according to its most recent filing with the SEC. 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 7.30% of Nexstar Broadcasting Group worth $241,289,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NXST. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 last quarter. James Investment Research Inc. bought a new stake in Nexstar Broadcasting Group during the first quarter valued at about $153,000. SG Americas Securities LLC boosted 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 valued at $185,000 after buying an additional 859 shares during the last quarter. Koch Industries Inc. bought a new stake in Nexstar Broadcasting Group during the first quarter valued at about $202,000. Finally, GSA Capital Partners LLP bought a new stake in Nexstar Broadcasting Group during the fourth quarter valued at about $209,000.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 60.60 on Wednesday. The company has a market cap of $2.86 billion, a PE ratio of 28.15 and a beta of 2.30. The company has a 50-day moving average of $59.32 and a 200 day moving average of $64.63. 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, May 9th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.71. The company had revenue of $540.32 million for the quarter, compared to analyst estimates of $525.76 million. Nexstar Broadcasting Group had a return on equity of 24.33% and a net margin of 5.47%. The firm’s revenue for the quarter was up 111.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.35 earnings per share for the current year.

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Several equities research analysts have recently issued reports on NXST shares. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Friday, May 5th. ValuEngine upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and issued a $83.00 price target on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Finally, BidaskClub upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.63.

In other Nexstar Broadcasting Group news, Director John R. Muse sold 700 shares of the firm’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $70.01, for a total value of $49,007.00. Following the completion of the sale, the director now directly owns 7,400 shares of the company’s stock, valued at approximately $518,074. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Muse sold 38,631 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $70.10, for a total value of $2,708,033.10. Following the completion of the sale, the director now directly owns 7,141 shares of the company’s stock, valued at $500,584.10. The disclosure for this sale can be found here. Insiders sold a total of 39,631 shares of company stock valued at $2,778,049 over the last ninety days. Corporate insiders own 8.40% 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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