Nexstar Broadcasting Group, Inc. (NXST) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA trimmed its holdings in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 89.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,223 shares of the company’s stock after selling 53,283 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Nexstar Broadcasting Group were worth $372,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in NXST. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Nexstar Broadcasting Group by 98.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock valued at $127,000 after buying an additional 901 shares during the last quarter. Blueport Capital L.P. acquired a new stake in Nexstar Broadcasting Group in the first quarter worth about $140,000. Invictus RG acquired a new stake in Nexstar Broadcasting Group in the first quarter worth about $149,000. SG Americas Securities LLC increased its position in Nexstar Broadcasting Group by 48.4% in the first quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock worth $185,000 after purchasing an additional 859 shares during the period. Finally, Koch Industries Inc. acquired a new stake in Nexstar Broadcasting Group in the first quarter worth about $202,000.
Several equities analysts have recently issued reports on NXST shares. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price objective on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wells Fargo & Company restated 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 upgraded Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.00.
In other Nexstar Broadcasting Group news, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $63.49, for a total value of $285,705.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Carter sold 3,125 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were 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 of the company’s stock, valued at approximately $4,307,586. 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 57.80 on Monday. The company has a market cap of $2.67 billion, a PE ratio of 23.78 and a beta of 2.27. The firm has a 50-day moving average price of $61.57 and a 200 day moving average price of $63.62. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 EPS 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 firm had revenue of $626.11 million during the quarter, compared to analysts’ expectations of $608.23 million. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 139.0% compared to the same quarter last year. On average, equities analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 earnings per share for the current year.
Nexstar Broadcasting Group declared that its board has authorized a share buyback plan on Monday, June 12th that authorizes the company to repurchase $51.30 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a $0.30 dividend. 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 2.08%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 48.78%.
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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.
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