Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 652.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,676 shares of the company’s stock after acquiring an additional 11,859 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Broadcasting Group were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NXST. Teachers Advisors LLC grew its stake in Nexstar Broadcasting Group by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 48,784 shares of the company’s stock valued at $3,088,000 after acquiring an additional 665 shares during the period. Nationwide Fund Advisors grew its stake in Nexstar Broadcasting Group by 38.3% in the first quarter. Nationwide Fund Advisors now owns 25,884 shares of the company’s stock valued at $1,816,000 after acquiring an additional 7,164 shares during the period. ProShare Advisors LLC grew its stake in Nexstar Broadcasting Group by 4.3% in the first quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock valued at $351,000 after acquiring an additional 207 shares during the period. Strs Ohio acquired a new position in Nexstar Broadcasting Group in the first quarter valued at about $322,000. Finally, DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Nexstar Broadcasting Group in the first quarter valued at about $610,000.

In other news, CFO Thomas Carter sold 3,125 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $63.50, for a total value of $198,437.50. Following the completion of the sale, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $4,307,586. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The disclosure for this sale can be found here. Company insiders own 8.40% of the company’s stock.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ NXST) opened at 58.75 on Tuesday. The stock has a 50 day moving average price of $62.60 and a 200-day moving average price of $63.90. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 24.17 and a beta of 2.27.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly 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. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. The firm had revenue of $626.11 million during the quarter, compared to the consensus estimate of $608.23 million. During the same period last year, the business posted $0.78 EPS. The business’s revenue was up 139.0% compared to the same quarter last year. On average, equities research analysts expect that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 2.04%. Nexstar Broadcasting Group’s payout ratio is currently 48.78%.

Nexstar Broadcasting Group announced that its Board of Directors has approved a stock buyback plan on Monday, June 12th that permits the company to repurchase $51.30 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “Nexstar Broadcasting Group, Inc. (NXST) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/09/12/nexstar-broadcasting-group-inc-nxst-shares-bought-by-zurcher-kantonalbank-zurich-cantonalbank.html.

A number of research analysts have issued reports on NXST shares. ValuEngine cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. Zacks Investment Research raised Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wells Fargo & Company reissued 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, BidaskClub raised Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.75.

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.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Broadcasting Group, Inc. (NASDAQ:NXST).

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

Receive News & Stock Ratings for Nexstar Broadcasting Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Broadcasting Group Inc. and related stocks with our FREE daily email newsletter.