Nexstar Broadcasting Group, Inc. (NXST) Director John R. Muse Sells 193 Shares of Stock

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 193 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $60.33, for a total transaction of $11,643.69. Following the completion of the transaction, the director now owns 6,857 shares in the company, valued at $413,682.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Nexstar Broadcasting Group, Inc. (NXST) traded up 0.42% during midday trading on Friday, reaching $59.50. 678,248 shares of the company’s stock traded hands. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 24.48 and a beta of 2.27. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90. The stock’s 50 day moving average price is $61.21 and its 200 day moving average price is $63.34.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted 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. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 139.0% compared to the same quarter last year. Equities research analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.

Nexstar Broadcasting Group announced that its board has authorized a share buyback program on Monday, June 12th that allows the company to buyback $51.30 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced 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. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, August 9th. Nexstar Broadcasting Group’s payout ratio is 48.78%.

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A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Thompson Siegel & Walmsley LLC bought a new stake in Nexstar Broadcasting Group during the 2nd quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nexstar Broadcasting Group by 98.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after acquiring an additional 901 shares during the last quarter. Blueport Capital L.P. bought a new stake in Nexstar Broadcasting Group during the 1st quarter worth approximately $140,000. Bronfman E.L. Rothschild L.P. bought a new stake in Nexstar Broadcasting Group during the 2nd quarter worth approximately $145,000. Finally, Invictus RG bought a new stake in Nexstar Broadcasting Group during the 1st quarter worth approximately $149,000.

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $81.00 price objective (down from $83.00) on shares of Nexstar Broadcasting Group in a report on Thursday, August 10th. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Wells Fargo & Company restated an “outperform” rating and issued a $85.00 price objective on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Finally, ValuEngine lowered shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $77.00.

About Nexstar Broadcasting Group

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.

Insider Buying and Selling by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

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