Vaughan Nelson Investment Management L.P. raised its stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,538,285 shares of the company’s stock after purchasing an additional 304,610 shares during the period. Nexstar Broadcasting Group accounts for approximately 1.1% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 10th largest holding. Vaughan Nelson Investment Management L.P. owned about 3.33% of Nexstar Broadcasting Group worth $95,834,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. First Trust Advisors LP acquired a new stake in shares of Nexstar Broadcasting Group during the third quarter worth about $562,000. Fox Run Management L.L.C. acquired a new position in Nexstar Broadcasting Group in the third quarter valued at approximately $262,000. Strs Ohio lifted its holdings in Nexstar Broadcasting Group by 15.4% in the third quarter. Strs Ohio now owns 67,600 shares of the company’s stock valued at $4,211,000 after acquiring an additional 9,000 shares during the period. Phocas Financial Corp. lifted its holdings in Nexstar Broadcasting Group by 4.7% in the second quarter. Phocas Financial Corp. now owns 154,828 shares of the company’s stock valued at $9,259,000 after acquiring an additional 6,908 shares during the period. Finally, Sentry Investment Management LLC lifted its holdings in Nexstar Broadcasting Group by 1.7% in the second quarter. Sentry Investment Management LLC now owns 51,683 shares of the company’s stock valued at $3,091,000 after acquiring an additional 881 shares during the period.
In other news, insider Julie Pruett sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $60.01, for a total value of $180,030.00. Following the completion of the sale, the insider now directly owns 11,985 shares of the company’s stock, valued at approximately $719,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Muse sold 641,240 shares of Nexstar Broadcasting Group stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total value of $38,538,524.00. The disclosure for this sale can be found here. Insiders have sold a total of 970,307 shares of company stock valued at $58,146,660 over the last ninety days. 7.80% of the stock is owned by insiders.
Nexstar Broadcasting Group, Inc. (NXST) traded down $0.55 during trading hours on Friday, reaching $65.65. The company had a trading volume of 784,200 shares, compared to its average volume of 720,564. The stock has a market cap of $3,016.48, a P/E ratio of 17.38, a PEG ratio of 1.46 and a beta of 2.24. The company has a quick ratio of 1.36, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. Nexstar Broadcasting Group, Inc. has a 12-month low of $55.00 and a 12-month high of $73.90.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.09. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The firm had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 122.0% compared to the same quarter last year. equities research analysts predict that Nexstar Broadcasting Group, Inc. will post 3.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.83%. Nexstar Broadcasting Group’s payout ratio is 45.11%.
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A number of analysts have recently commented on the company. Deutsche Bank AG boosted their price target on Nexstar Broadcasting Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley upped their target price on Nexstar Broadcasting Group from $79.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday. FBR & Co began coverage on Nexstar Broadcasting Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 target price for the company. Zacks Investment Research cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Guggenheim initiated coverage on Nexstar Broadcasting Group in a report on Wednesday, October 18th. They issued a “buy” rating and a $90.00 target price for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $80.91.
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.
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