Emerald Advisers Inc. PA raised its position in shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) by 168.9% during the second quarter, Holdings Channel reports. The institutional investor owned 374,410 shares of the company’s stock after buying an additional 235,150 shares during the period. Emerald Advisers Inc. PA’s holdings in Nexstar Broadcasting Group were worth $17,814,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Virginia Retirement System acquired a new position in Nexstar Broadcasting Group during the first quarter worth about $784,000. Pacad Investment Ltd. boosted its position in Nexstar Broadcasting Group by 175.4% in the first quarter. Pacad Investment Ltd. now owns 19,000 shares of the company’s stock worth $841,000 after buying an additional 12,100 shares in the last quarter. BlackRock Group LTD boosted its position in Nexstar Broadcasting Group by 29.1% in the first quarter. BlackRock Group LTD now owns 96,979 shares of the company’s stock worth $4,294,000 after buying an additional 21,836 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Nexstar Broadcasting Group during the first quarter worth about $1,499,000. Finally, Sentry Investment Management LLC boosted its position in Nexstar Broadcasting Group by 12.8% in the first quarter. Sentry Investment Management LLC now owns 33,518 shares of the company’s stock worth $1,484,000 after buying an additional 3,800 shares in the last quarter.
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded up 0.55% during trading on Wednesday, hitting $58.40. The company had a trading volume of 336,040 shares. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 20.48 and a beta of 2.31. Nexstar Broadcasting Group Inc. has a 1-year low of $34.65 and a 1-year high of $61.79. The company’s 50 day moving average price is $53.81 and its 200-day moving average price is $51.02.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a net margin of 9.12% and a return on equity of 89.87%. The business earned $261.99 million during the quarter, compared to analysts’ expectations of $265.19 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue was up 19.4% on a year-over-year basis. On average, analysts expect that Nexstar Broadcasting Group Inc. will post $3.81 EPS for the current year.
Several analysts have recently weighed in on the company. Zacks Investment Research cut Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Wells Fargo & Co. restated a “positive” rating and set a $66.00 price target on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. Stephens set a $65.00 price target on Nexstar Broadcasting Group and gave the stock a “buy” rating in a report on Wednesday, September 28th. Finally, Jefferies Group restated a “buy” rating and set a $60.00 price target on shares of Nexstar Broadcasting Group in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $66.63.
In other Nexstar Broadcasting Group news, CFO Thomas Carter sold 1,236 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $51.52, for a total value of $63,678.72. Following the sale, the chief financial officer now owns 67,836 shares of the company’s stock, valued at approximately $3,494,910.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Blake Russell sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $52.38, for a total value of $523,800.00. Following the completion of the sale, the senior vice president now directly owns 27,861 shares in the company, valued at approximately $1,459,359.18. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.
About Nexstar Broadcasting Group
Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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