BNP Paribas Arbitrage SA Has $337,000 Holdings in Nexstar Broadcasting Group, Inc. (NXST)
BNP Paribas Arbitrage SA lessened its holdings in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 13.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,412 shares of the company’s stock after selling 811 shares during the period. BNP Paribas Arbitrage SA’s holdings in Nexstar Broadcasting Group were worth $337,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC acquired a new position in shares of Nexstar Broadcasting Group during the 2nd quarter worth about $125,000. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Nexstar Broadcasting Group during the 2nd quarter worth about $145,000. Victory Capital Management Inc. acquired a new position in shares of Nexstar Broadcasting Group during the 3rd quarter worth about $172,000. SG Americas Securities LLC lifted its position in shares of Nexstar Broadcasting Group by 29.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after purchasing an additional 785 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Nexstar Broadcasting Group by 2.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after purchasing an additional 99 shares during the last quarter.
In other news, insider Gary Michael Vaughn sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total value of $28,528.00. Following the sale, the insider now directly owns 7,140 shares in the company, valued at approximately $509,224.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Muse sold 229,267 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $59.50, for a total value of $13,641,386.50. Following the completion of the sale, the director now owns 4,743 shares in the company, valued at $282,208.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,275,917 shares of company stock valued at $78,359,404. Insiders own 8.40% of the company’s stock.
Several equities analysts recently weighed in on NXST shares. Jefferies Group reissued a “buy” rating and set a $80.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st. Royal Bank of Canada reissued a “buy” rating and set a $81.00 price objective on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. Zacks Investment Research raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, September 13th. Deutsche Bank started coverage on Nexstar Broadcasting Group in a research report on Friday, October 20th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Guggenheim started coverage on Nexstar Broadcasting Group in a research report on Wednesday, October 18th. They set a “buy” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.00.
Nexstar Broadcasting Group, Inc. (NXST) opened at $71.85 on Tuesday. 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 company has a market capitalization of $3,292.15, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 1.63 and a beta of 2.21. Nexstar Broadcasting Group, Inc. has a twelve month low of $55.95 and a twelve month high of $73.90.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million during the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The company’s revenue for the quarter was up 122.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. equities research analysts expect that Nexstar Broadcasting Group, Inc. will post 3.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.30 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.20 annualized dividend and a yield of 1.67%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is 45.11%.
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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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