Bluefin Trading LLC acquired a new stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,500 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds also recently modified their holdings of NXST. Great West Life Assurance Co. Can lifted its holdings in shares of 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 during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Nexstar Broadcasting Group by 60.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,750 shares of the company’s stock valued at $1,175,000 after buying an additional 6,307 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of 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 during the period. Karp Capital Management Corp acquired a new position in shares of Nexstar Broadcasting Group in the 1st quarter valued at about $300,000. Finally, Sei Investments Co. lifted its holdings in shares of 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 during the period.

Nexstar Broadcasting Group, Inc. (NXST) traded down 1.28% during trading on Monday, reaching $61.90. The company had a trading volume of 193,912 shares. The firm has a 50-day moving average of $60.52 and a 200-day moving average of $62.61. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 25.46 and a beta of 2.22.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, beating 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 company had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 139.0% compared to the same quarter last year. On average, analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current fiscal year.

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

Several equities analysts have recently issued reports on the company. BidaskClub cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research cut Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of Nexstar Broadcasting Group in a report on Thursday, September 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $81.00 price target on shares of Nexstar Broadcasting Group in a report on Monday, September 18th. Finally, ValuEngine raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.71.

In other news, insider Julie Pruett sold 3,000 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $60.01, for a total transaction of $180,030.00. Following the completion of the sale, the insider now directly owns 11,985 shares in the company, valued at approximately $719,219.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dennis Miller sold 4,500 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.49, for a total transaction of $285,705.00. The disclosure for this sale can be found here. Insiders sold a total of 972,682 shares of company stock worth $58,308,393 in the last ninety days. 8.40% of the stock is owned by corporate 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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