Dimensional Fund Advisors LP Has $44,392,000 Position in Nexstar Broadcasting Group Inc. (NXST)
Dimensional Fund Advisors LP decreased its stake in Nexstar Broadcasting Group Inc. (NASDAQ:NXST) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 932,977 shares of the company’s stock after selling 587 shares during the period. Dimensional Fund Advisors LP owned approximately 3.04% of Nexstar Broadcasting Group worth $44,392,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NXST. Teacher Retirement System of Texas increased its position in Nexstar Broadcasting Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,285 shares of the company’s stock worth $204,000 after buying an additional 518 shares during the period. Fox Run Management L.L.C. purchased a new position in Nexstar Broadcasting Group during the second quarter worth approximately $281,000. Boothbay Fund Management LLC purchased a new position in Nexstar Broadcasting Group during the first quarter worth approximately $322,000. Quantitative Investment Management LLC purchased a new position in Nexstar Broadcasting Group during the second quarter worth approximately $437,000. Finally, First Trust Advisors LP purchased a new position in Nexstar Broadcasting Group during the second quarter worth approximately $447,000.
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded down 2.15% during midday trading on Thursday, hitting $54.62. The stock had a trading volume of 104,689 shares. 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 cap of $1.68 billion, a P/E ratio of 19.15 and a beta of 2.31. The company’s 50-day moving average price is $54.46 and its 200 day moving average price is $51.49.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.07. Nexstar Broadcasting Group had a net margin of 9.12% and a return on equity of 89.87%. The business had revenue of $261.99 million for the quarter, compared to analysts’ expectations of $265.19 million. During the same quarter in the prior year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts predict that Nexstar Broadcasting Group Inc. will post $3.81 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on NXST shares. Zacks Investment Research downgraded Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Stephens set a $65.00 price objective on Nexstar Broadcasting Group and gave the stock a “buy” rating in a report on Wednesday, September 28th. Jefferies Group restated a “buy” rating and issued a $60.00 price objective on shares of Nexstar Broadcasting Group in a report on Wednesday, September 28th. Finally, Wells Fargo & Co. restated a “positive” rating and issued a $66.00 price objective on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.75.
In other news, SVP Blake Russell sold 10,000 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 12th. The stock was sold at an average price of $52.38, for a total transaction of $523,800.00. Following the transaction, the senior vice president now owns 27,861 shares in the company, valued at $1,459,359.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Carter sold 1,236 shares of Nexstar Broadcasting Group stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.52, for a total value of $63,678.72. Following the transaction, the chief financial officer now owns 67,836 shares in the company, valued at approximately $3,494,910.72. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Nexstar Broadcasting Group Company Profile
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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