Insider Selling: Nexstar Broadcasting Group CEO Sells 223,141 Shares of Stock (NXST)
Nexstar Broadcasting Group (NASDAQ:NXST) CEO Perry A. Sook sold 223,141 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $48.92, for a total value of $10,916,057.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 13.49% during mid-day trading on Wednesday, hitting $48.81. The stock had a trading volume of 2,880,937 shares. Nexstar Broadcasting Group has a 1-year low of $28.88 and a 1-year high of $56.42. The stock has a 50-day moving average of $44.40 and a 200-day moving average of $43.9. The company has a market cap of $1.495 billion and a P/E ratio of 267.14.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.35. The company had revenue of $72.20 million for the quarter, compared to the consensus estimate of $132.20 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that Nexstar Broadcasting Group will post $2.60 EPS for the current fiscal year.
A number of research firms have recently commented on NXST. Analysts at Jefferies Group initiated coverage on shares of Nexstar Broadcasting Group in a research note on Wednesday. They set a “hold” rating on the stock. Separately, analysts at Evercore Partners downgraded shares of Nexstar Broadcasting Group from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 6th. They now have a $52.00 price target on the stock. Finally, analysts at Wedbush raised their price target on shares of Nexstar Broadcasting Group to $48.00 in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Nexstar Broadcasting Group has a consensus rating of “Buy” and a consensus target price of $45.76.
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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