Nexstar Broadcasting Group COO Unloads $769,600 in Stock (NXST)
Nexstar Broadcasting Group (NASDAQ:NXST) COO Timothy Busch sold 20,000 shares of the stock on the open market in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.48, for a total value of $769,600.00. Following the completion of the transaction, the chief operating officer now directly owns 55,214 shares of the company’s stock, valued at approximately $2,124,635. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on NXST. Analysts at Benchmark Co. reiterated a “buy” rating on shares of Nexstar Broadcasting Group (NASDAQ:NXST) in a research note to investors on Tuesday, September 17th. They now have a $41.00 price target on the stock. Separately, analysts at Evercore Partners raised their price target on shares of Nexstar Broadcasting Group (NASDAQ:NXST) from $37.00 to $40.00 in a research note to investors on Tuesday, September 17th. They now have an “overweight” rating on the stock. Finally, analysts at ING Group downgraded shares of Nexstar Broadcasting Group (NASDAQ:NXST) from a “buy” rating to a “hold” rating in a research note to investors on Thursday, August 22nd.
Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $40.46.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 4.15% on Monday, hitting $40.15. The stock had a trading volume of 1,633,338 shares. Nexstar Broadcasting Group has a one year low of $8.99 and a one year high of $39.75. The stock has a 50-day moving average of $34.0 and a 200-day moving average of $28.79. The company has a market cap of $1.204 billion and a price-to-earnings ratio of 6.74.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.09. The company had revenue of $126.20 million for the quarter, compared to the consensus estimate of $123.09 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. On average, analysts predict that Nexstar Broadcasting Group will post $1.06 earnings per share for the current fiscal year.
Nexstar Broadcasting, Inc (NASDAQ:NXST) is a television broadcasting and digital media company focused on the acquisition, development and operation of television (TV) stations and interactive community Websites in the United States.
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