Prudential Financial Inc. Sells 3,880 Shares of Nexstar Broadcasting Group, Inc. (NXST)

Prudential Financial Inc. lowered its stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 42.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,207 shares of the company’s stock after selling 3,880 shares during the quarter. Prudential Financial Inc.’s holdings in Nexstar Broadcasting Group were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of NXST. Great West Life Assurance Co. Can lifted its stake in Nexstar Broadcasting Group by 39.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,828 shares of the company’s stock valued at $338,000 after buying an additional 1,363 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Nexstar Broadcasting Group by 96.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 23,181 shares of the company’s stock valued at $1,626,000 after buying an additional 11,379 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Nexstar Broadcasting Group in the 1st quarter valued at approximately $300,000. Sei Investments Co. lifted its stake in Nexstar Broadcasting Group by 12.7% in the 1st quarter. Sei Investments Co. now owns 14,581 shares of the company’s stock valued at $1,023,000 after buying an additional 1,643 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Nexstar Broadcasting Group by 54.6% in the 1st quarter. Ameriprise Financial Inc. now owns 98,714 shares of the company’s stock valued at $6,924,000 after buying an additional 34,873 shares in the last quarter.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 59.80 on Friday. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90. The firm has a market capitalization of $2.76 billion, a P/E ratio of 24.60 and a beta of 2.22. The firm has a 50-day moving average price of $60.62 and a 200 day moving average price of $62.40.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. The firm had revenue of $626.11 million during the quarter, compared to analysts’ expectations of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm’s revenue for the quarter was up 139.0% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 earnings per share for the current year.

A number of equities research analysts recently issued reports on NXST shares. Zacks Investment Research raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Wednesday, September 13th. BidaskClub lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $81.00 target price (down previously from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday, August 10th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Finally, ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $78.71.

In related news, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $180,030.00. Following the completion of the transaction, the insider now directly owns 11,985 shares of the company’s stock, valued at approximately $719,219.85. The disclosure for this sale can be found here. Insiders have sold 972,682 shares of company stock valued at $58,308,393 over the last 90 days. 7.80% of the stock is currently owned by insiders.

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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.

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

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