Kingdon Capital Management L.L.C. grew its stake in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 41.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 614,596 shares of the company’s stock after buying an additional 180,942 shares during the period. Nexstar Broadcasting Group accounts for 2.5% of Kingdon Capital Management L.L.C.’s investment portfolio, making the stock its 10th biggest position. Kingdon Capital Management L.L.C. owned approximately 1.33% of Nexstar Broadcasting Group worth $36,753,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in NXST. Thompson Siegel & Walmsley LLC purchased a new position in Nexstar Broadcasting Group during the second quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nexstar Broadcasting Group by 98.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after buying an additional 901 shares in the last quarter. Blueport Capital L.P. purchased a new position in Nexstar Broadcasting Group during the first quarter worth $140,000. Bronfman E.L. Rothschild L.P. purchased a new position in Nexstar Broadcasting Group during the second quarter worth $145,000. Finally, Invictus RG purchased a new position in Nexstar Broadcasting Group during the first quarter worth $149,000.

Several equities analysts have weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $81.00 price target (down previously from $83.00) on shares of Nexstar Broadcasting Group in a research report on Thursday, August 10th. BidaskClub raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Wells Fargo & Company restated an “outperform” rating and set a $85.00 price objective on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Finally, ValuEngine cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $78.71.

In other news, CFO Thomas Carter sold 3,125 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 67,836 shares of the company’s stock, valued at $4,307,586. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Miller sold 4,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $63.49, for a total transaction of $285,705.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 972,682 shares of company stock worth $58,308,393. Company insiders own 7.80% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/kingdon-capital-management-l-l-c-grows-holdings-in-nexstar-broadcasting-group-inc-nxst/1612886.html.

Nexstar Broadcasting Group, Inc. (NXST) traded down 0.48% during midday trading on Friday, hitting $62.75. The stock had a trading volume of 126,669 shares. The firm has a 50 day moving average price of $60.47 and a 200 day moving average price of $62.65. The stock has a market cap of $2.90 billion, a PE ratio of 25.81 and a beta of 2.22. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $608.23 million. During the same period in the previous year, the business earned $0.78 EPS. The company’s revenue was up 139.0% on a year-over-year basis. Equities analysts expect that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.

Nexstar Broadcasting Group declared that its board has authorized a share buyback program on Monday, June 12th that authorizes the company to repurchase $51.30 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management 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.