Pacific Alternative Asset Management Company LLC trimmed its position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,558 shares of the company’s stock after selling 29,197 shares during the period. Nexstar Broadcasting Group accounts for approximately 4.4% of Pacific Alternative Asset Management Company LLC’s investment portfolio, making the stock its 5th biggest holding. Pacific Alternative Asset Management Company LLC owned about 0.61% of Nexstar Broadcasting Group worth $17,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXST. BlackRock Inc. increased its position in shares of Nexstar Broadcasting Group by 118,109.1% in the 1st quarter. BlackRock Inc. now owns 2,975,324 shares of the company’s stock valued at $208,720,000 after acquiring an additional 2,972,807 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Nexstar Broadcasting Group in the 2nd quarter valued at $73,774,000. Vanguard Group Inc. increased its position in shares of Nexstar Broadcasting Group by 54.3% in the 1st quarter. Vanguard Group Inc. now owns 3,439,610 shares of the company’s stock valued at $241,289,000 after acquiring an additional 1,209,744 shares during the period. FMR LLC increased its position in shares of Nexstar Broadcasting Group by 52.6% in the 1st quarter. FMR LLC now owns 2,280,054 shares of the company’s stock valued at $159,946,000 after acquiring an additional 785,601 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Nexstar Broadcasting Group by 36.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,612,829 shares of the company’s stock valued at $113,141,000 after acquiring an additional 430,438 shares during the period.

Several equities analysts recently issued reports on NXST shares. ValuEngine downgraded Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Zacks Investment Research downgraded Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.00.

In other Nexstar Broadcasting Group news, insider Julie Pruett sold 3,000 shares of Nexstar Broadcasting Group 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 transaction, the insider now directly owns 11,985 shares in the company, valued at $719,219.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas Carter sold 3,125 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the transaction, the chief financial officer now owns 67,836 shares in the company, valued at $4,307,586. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,102 shares of company stock worth $1,173,047. 7.80% of the stock is currently owned by company insiders.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) traded up 0.42% during midday trading on Friday, reaching $59.50. The company’s stock had a trading volume of 131,272 shares. Nexstar Broadcasting Group, Inc. has a 52 week low of $47.00 and a 52 week high of $73.90. The company has a 50 day moving average of $61.21 and a 200-day moving average of $63.34. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 24.48 and a beta of 2.27.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. Nexstar Broadcasting Group’s quarterly revenue was up 139.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Equities research analysts predict that Nexstar Broadcasting Group, Inc. will post $3.57 earnings per share for the current year.

Nexstar Broadcasting Group declared that its Board of Directors has initiated a share repurchase program on Monday, June 12th that permits the company to buyback $51.30 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The firm 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 was Wednesday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. Nexstar Broadcasting Group’s dividend payout ratio 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.

Institutional Ownership by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

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