Goldman Sachs Group Inc. increased its stake in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,018,829 shares of the company’s stock after purchasing an additional 125,098 shares during the quarter. Goldman Sachs Group Inc. owned 2.20% of Nexstar Broadcasting Group worth $60,926,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Alps Advisors Inc. boosted its holdings in Nexstar Broadcasting Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock worth $408,000 after purchasing an additional 18 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Nexstar Broadcasting Group by 2.8% in the second 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. UBS Asset Management Americas Inc. boosted its holdings in Nexstar Broadcasting Group by 0.6% in the second quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock worth $1,394,000 after purchasing an additional 131 shares during the last quarter. Amalgamated Bank boosted its holdings in Nexstar Broadcasting Group by 10.8% in the second quarter. Amalgamated Bank now owns 5,951 shares of the company’s stock worth $356,000 after purchasing an additional 582 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Nexstar Broadcasting Group by 29.8% in the second 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.

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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC restated a “buy” rating and issued a $80.00 target price on shares of Nexstar Broadcasting Group in a report on Thursday, September 21st. Royal Bank Of Canada restated a “buy” rating and issued a $81.00 target price on shares of Nexstar Broadcasting Group in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Wednesday, September 13th. ValuEngine cut shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub cut shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Nexstar Broadcasting Group currently has an average rating of “Buy” and an average target price of $78.71.

Nexstar Broadcasting Group, Inc. (NASDAQ NXST) opened at 63.05 on Friday. The stock’s 50 day moving average is $60.47 and its 200 day moving average is $62.65. The stock has a market cap of $2.91 billion, a PE ratio of 25.94 and a beta of 2.22. Nexstar Broadcasting Group, Inc. has a 52 week low of $47.00 and a 52 week high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. The firm 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%. The business’s quarterly revenue was up 139.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. Analysts predict that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.

Nexstar Broadcasting Group announced that its board has authorized a share buyback 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. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director John R. Muse sold 229,267 shares of the stock in a transaction 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 sale, the director now owns 4,743 shares in the company, valued at $282,208.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Muse sold 641,240 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total transaction of $38,538,524.00. The disclosure for this sale can be found here. Insiders sold 972,682 shares of company stock worth $58,308,393 in the last quarter. Company insiders own 7.80% of the company’s stock.

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

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