Perry A. Sook Sells 300,000 Shares of Nexstar Broadcasting Group, Inc. (NXST) Stock

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) CEO Perry A. Sook sold 300,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $66.13, for a total value of $19,839,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Nexstar Broadcasting Group, Inc. (NASDAQ NXST) opened at $64.40 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.58. Nexstar Broadcasting Group, Inc. has a 1-year low of $55.95 and a 1-year high of $73.90. The stock has a market capitalization of $2,941.29, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.43 and a beta of 2.24.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The business had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. During the same period last year, the company earned $0.78 earnings per share. Nexstar Broadcasting Group’s quarterly revenue was up 122.0% compared to the same quarter last year. analysts predict that Nexstar Broadcasting Group, Inc. will post 3.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.86%. Nexstar Broadcasting Group’s dividend payout ratio is 45.11%.

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A number of equities analysts have issued reports on NXST shares. Deutsche Bank AG started coverage on Nexstar Broadcasting Group in a research note on Friday, October 20th. They set a “buy” rating and a $80.00 price target for the company. Zacks Investment Research raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, September 13th. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC reissued a “buy” rating and set a $80.00 price objective on shares of Nexstar Broadcasting Group in a research note on Thursday, September 21st. Finally, Guggenheim initiated coverage on Nexstar Broadcasting Group in a research note on Wednesday, October 18th. They set a “buy” rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Nexstar Broadcasting Group currently has an average rating of “Buy” and a consensus target price of $82.00.

A number of institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its position in Nexstar Broadcasting Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock worth $408,000 after buying an additional 18 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of 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 valued at $214,000 after purchasing an additional 99 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of 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 valued at $1,394,000 after purchasing an additional 131 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Nexstar Broadcasting Group by 8.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after purchasing an additional 312 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Nexstar Broadcasting Group by 10.8% in the second quarter. Amalgamated Bank now owns 5,951 shares of the company’s stock valued at $356,000 after purchasing an additional 582 shares during the last quarter.

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.

Insider Buying and Selling by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

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