Nexstar Broadcasting Group Inc. (NASDAQ:NXST) Director Lisbeth Mcnabb sold 950 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $60.60, for a total value of $57,570.00. Following the completion of the sale, the director now owns 950 shares in the company, valued at approximately $57,570. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded down 0.801% during mid-day trading on Thursday, reaching $58.825. The company had a trading volume of 397,643 shares. The stock has a 50 day moving average price of $53.62 and a 200-day moving average price of $52.27. Nexstar Broadcasting Group Inc. has a 12-month low of $34.65 and a 12-month high of $61.79. The stock has a market capitalization of $1806.22 billion, a P/E ratio of 18.976 and a beta of 2.17.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 64.45% and a net margin of 9.39%. The business earned $275.70 million during the quarter, compared to analysts’ expectations of $62.05 million. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities analysts anticipate that Nexstar Broadcasting Group Inc. will post $3.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.62%. Nexstar Broadcasting Group’s dividend payout ratio is presently 30.87%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Nexstar Broadcasting Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,090,329 shares of the company’s stock worth $99,457,000 after buying an additional 28,291 shares in the last quarter. Brenner West Capital Advisors LLC boosted its position in shares of Nexstar Broadcasting Group by 9.4% in the second quarter. Brenner West Capital Advisors LLC now owns 1,116,899 shares of the company’s stock worth $53,142,000 after buying an additional 95,749 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Nexstar Broadcasting Group by 15.0% in the second quarter. Royal Bank of Canada now owns 1,089,500 shares of the company’s stock worth $51,838,000 after buying an additional 142,373 shares in the last quarter. Scopus Asset Management L.P. purchased a new position in shares of Nexstar Broadcasting Group during the third quarter worth approximately $60,921,000. Finally, Tiger Legatus Capital Management LLC boosted its position in shares of Nexstar Broadcasting Group by 57.1% in the second quarter. Tiger Legatus Capital Management LLC now owns 880,000 shares of the company’s stock worth $41,870,000 after buying an additional 320,000 shares in the last quarter.

A number of research firms recently weighed in on NXST. Barrington Research increased their price target on Nexstar Broadcasting Group from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Co. restated a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Monday. Zacks Investment Research cut Nexstar Broadcasting Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 11th. Wedbush increased their price objective on Nexstar Broadcasting Group from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 9th. Finally, Stephens set a $65.00 price objective on Nexstar Broadcasting Group and gave the stock a “buy” rating in a research report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $66.88.

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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