New York State Common Retirement Fund Has $9.95 Million Stake in Nexstar Broadcasting Group, Inc. (NXST)

New York State Common Retirement Fund increased its position in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,452 shares of the company’s stock after buying an additional 11,553 shares during the period. New York State Common Retirement Fund owned about 0.35% of Nexstar Broadcasting Group worth $9,954,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of Nexstar Broadcasting Group by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock valued at $408,000 after buying an additional 18 shares during the last quarter. Teacher Retirement System of Texas raised 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 buying an additional 99 shares during the last quarter. Amalgamated Bank raised 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 buying an additional 582 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Nexstar Broadcasting Group by 29.8% in the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after buying an additional 785 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Nexstar Broadcasting Group by 1.8% in the second quarter. Swiss National Bank now owns 74,560 shares of the company’s stock valued at $4,459,000 after buying an additional 1,300 shares during the last quarter.

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Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) opened at 62.70 on Friday. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90. The firm’s 50-day moving average is $60.52 and its 200 day moving average is $62.61. The stock has a market capitalization of $2.90 billion, a P/E ratio of 25.79 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, beating the 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 company’s revenue for the quarter was up 139.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. On average, analysts expect that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current fiscal year.

Nexstar Broadcasting Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, June 12th that allows the company to buyback $51.30 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, CFO Thomas Carter sold 3,125 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the transaction, the chief financial officer now owns 67,836 shares of the company’s stock, valued at $4,307,586. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were 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. In the last ninety days, insiders have sold 972,682 shares of company stock worth $58,308,393. Insiders own 7.80% of the company’s stock.

A number of research firms have recently weighed in on NXST. BidaskClub lowered shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $81.00 price target on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. Finally, ValuEngine raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $78.71.

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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