Pacific Grove Capital LP cut its holdings in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,856 shares of the company’s stock after selling 18,144 shares during the quarter. Nexstar Broadcasting Group comprises about 1.5% of Pacific Grove Capital LP’s investment portfolio, making the stock its 28th biggest holding. Pacific Grove Capital LP owned 0.14% of Nexstar Broadcasting Group worth $3,854,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Alps Advisors Inc. raised its position in Nexstar Broadcasting Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock worth $408,000 after acquiring an additional 18 shares in the last quarter. Teacher Retirement System of Texas raised its position in Nexstar Broadcasting Group by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after acquiring an additional 99 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Nexstar Broadcasting Group by 0.6% in the second quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock worth $1,394,000 after acquiring an additional 131 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Nexstar Broadcasting Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after acquiring an additional 312 shares in the last quarter. Finally, Amalgamated Bank raised its position in Nexstar Broadcasting Group by 10.8% in the second quarter. Amalgamated Bank now owns 5,951 shares of the company’s stock worth $356,000 after acquiring an additional 582 shares in the last quarter.
Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at $72.25 on Monday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $3,290.00, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.63 and a beta of 2.20. Nexstar Broadcasting Group, Inc. has a twelve month low of $55.95 and a twelve month high of $73.90.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $611.87 million for the quarter, compared to analysts’ expectations of $609.44 million. During the same quarter in the previous year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 122.0% on a year-over-year basis. equities analysts expect that Nexstar Broadcasting Group, Inc. will post 3.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.20 annualized dividend and a yield of 1.66%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 44.94%.
In other Nexstar Broadcasting Group news, insider Gary Michael Vaughn sold 400 shares of Nexstar Broadcasting Group stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total transaction of $28,528.00. Following the transaction, the insider now owns 7,140 shares of the company’s stock, valued at approximately $509,224.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Perry A. Sook sold 300,000 shares of Nexstar Broadcasting Group stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $66.13, for a total value of $19,839,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,275,917 shares of company stock worth $78,359,404. Company insiders own 7.80% of the company’s stock.
Several brokerages have commented on NXST. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank boosted their price objective on Nexstar Broadcasting Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. B. Riley boosted their price objective on Nexstar Broadcasting Group from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. FBR & Co started coverage on Nexstar Broadcasting Group in a report on Tuesday, October 31st. They set a “buy” rating and a $79.00 price objective on the stock. Finally, Zacks Investment Research downgraded Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Nexstar Broadcasting Group has a consensus rating of “Buy” and an average target price of $82.00.
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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.
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