Nexstar Broadcasting Group Director Sells $57,500 in Stock (NXST)
Nexstar Broadcasting Group (NASDAQ:NXST) Director Lisbeth Mcnabb sold 1,250 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $46.00, for a total transaction of $57,500.00. The sale 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% on Wednesday, hitting $48.81. 2,880,937 shares of the company’s stock traded hands. Nexstar Broadcasting Group has a one year low of $28.88 and a one 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 released its earnings data on Thursday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.02 earnings per share. Nexstar Broadcasting Group’s revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Nexstar Broadcasting Group will post $2.60 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.