Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Nexstar Broadcasting Group, Inc. (NXST)
Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,196 shares of the company’s stock after selling 1,480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nexstar Broadcasting Group were worth $760,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NXST. Royal Bank of Canada raised its stake in shares of Nexstar Broadcasting Group by 62.0% in the second quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock valued at $64,089,000 after acquiring an additional 410,332 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Nexstar Broadcasting Group in the third quarter valued at $22,069,000. Beach Point Capital Management LP acquired a new stake in shares of Nexstar Broadcasting Group in the second quarter valued at $19,587,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Nexstar Broadcasting Group by 24.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,538,285 shares of the company’s stock valued at $95,834,000 after acquiring an additional 304,610 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Nexstar Broadcasting Group by 1,196.5% in the third quarter. Russell Investments Group Ltd. now owns 328,593 shares of the company’s stock valued at $20,471,000 after acquiring an additional 303,248 shares in the last quarter.
NXST has been the topic of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $81.00 price objective (down from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday, August 10th. BidaskClub upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. ValuEngine cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Wednesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Nexstar Broadcasting Group in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Nexstar Broadcasting Group currently has a consensus rating of “Buy” and a consensus price target of $82.00.
In other Nexstar Broadcasting Group news, CEO Perry A. Sook sold 300,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $66.13, for a total value of $19,839,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Julie Pruett sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $60.01, for a total value of $180,030.00. Following the completion of the sale, the insider now owns 11,985 shares in the company, valued at $719,219.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,275,517 shares of company stock worth $78,330,876. 8.40% of the stock is owned by insiders.
Shares of Nexstar Broadcasting Group, Inc. (NXST) opened at $70.75 on Tuesday. Nexstar Broadcasting Group, Inc. has a 52 week low of $55.95 and a 52 week high of $73.90. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $3,098.50, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 1.53 and a beta of 2.21.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The company had revenue of $611.87 million for the quarter, compared to analysts’ expectations of $609.44 million. During the same period last year, the firm earned $0.78 earnings per share. Nexstar Broadcasting Group’s quarterly revenue was up 122.0% on a year-over-year basis. equities research analysts predict that Nexstar Broadcasting Group, Inc. will post 3.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, November 16th. Nexstar Broadcasting Group’s dividend payout ratio is presently 45.11%.
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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.
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