Pentwater Capital Management LP purchased a new position in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 45,000 shares of the company’s stock, valued at approximately $2,691,000. Pentwater Capital Management LP owned about 0.10% of Nexstar Broadcasting Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sound Point Capital Management LP grew its position in Nexstar Broadcasting Group by 60.8% during the 2nd quarter. Sound Point Capital Management LP now owns 279,015 shares of the company’s stock worth $16,685,000 after acquiring an additional 105,473 shares during the last quarter. Macquarie Group Ltd. boosted its position in Nexstar Broadcasting Group by 33.3% in the 2nd quarter. Macquarie Group Ltd. now owns 24,352 shares of the company’s stock valued at $1,456,000 after buying an additional 6,083 shares during the last quarter. Sii Investments Inc. WI boosted its position in Nexstar Broadcasting Group by 28.0% in the 2nd quarter. Sii Investments Inc. WI now owns 6,383 shares of the company’s stock valued at $383,000 after buying an additional 1,398 shares during the last quarter. Ulysses Management LLC bought a new position in Nexstar Broadcasting Group in the 2nd quarter valued at $2,691,000. Finally, Royal Bank of Canada boosted its position in Nexstar Broadcasting Group by 62.0% in the 2nd quarter. Royal Bank of Canada now owns 1,071,694 shares of the company’s stock valued at $64,089,000 after buying an additional 410,332 shares during the last quarter.

In related news, insider Julie Pruett sold 3,000 shares of the business’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 sale, the insider now owns 11,985 shares of the company’s stock, valued at $719,219.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Carter sold 3,125 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the sale, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $4,307,586. The disclosure for this sale can be found here. In the last three months, insiders sold 972,682 shares of company stock worth $58,308,393. 7.80% of the stock is currently owned by insiders.

A number of brokerages have commented on NXST. Jefferies Group LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $81.00 price objective on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. 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 report on Wednesday, September 13th. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Nexstar Broadcasting Group presently has a consensus rating of “Buy” and a consensus target price of $78.71.

ILLEGAL ACTIVITY WARNING: “45,000 Shares in Nexstar Broadcasting Group, Inc. (NXST) Purchased by Pentwater Capital Management LP” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.watchlistnews.com/45000-shares-in-nexstar-broadcasting-group-inc-nxst-purchased-by-pentwater-capital-management-lp/1613030.html.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) remained flat at $63.05 on Friday. 100,301 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $60.47 and its 200 day moving average price is $62.65. Nexstar Broadcasting Group, Inc. has a 52-week low of $47.00 and a 52-week high of $73.90. The firm has a market capitalization of $2.91 billion, a P/E ratio of 25.94 and a beta of 2.22.

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

Nexstar Broadcasting Group announced that its Board of Directors has authorized a stock repurchase program on Monday, June 12th that allows the company to repurchase $51.30 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Broadcasting Group, Inc. (NASDAQ:NXST).

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

Receive News & Ratings for Nexstar Broadcasting Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Broadcasting Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.