Shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) saw strong trading volume on Wednesday . 557,612 shares changed hands during trading, an increase of 17% from the previous session’s volume of 478,185 shares.The stock last traded at $51.98 and had previously closed at $52.03.

Several equities analysts have commented on the stock. Jefferies Group reissued a “buy” rating on shares of Nexstar Broadcasting Group in a research report on Friday, August 5th. Zacks Investment Research cut shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Finally, Wells Fargo & Co. reaffirmed a “positive” rating and issued a $66.00 price target on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $66.38.

The stock’s 50 day moving average price is $52.92 and its 200 day moving average price is $50.48. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 18.43 and a beta of 2.04.

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Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The business earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. During the same quarter in the previous year, the business posted $0.63 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that Nexstar Broadcasting Group Inc. will post $3.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a $0.24 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $0.96 annualized dividend and a yield of 1.83%. Nexstar Broadcasting Group’s payout ratio is presently 33.45%.

In other news, SVP Blake Russell sold 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $52.38, for a total transaction of $523,800.00. Following the sale, the senior vice president now directly owns 27,861 shares in the company, valued at approximately $1,459,359.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Carter sold 1,236 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.52, for a total transaction of $63,678.72. Following the sale, the chief financial officer now owns 67,836 shares in the company, valued at $3,494,910.72. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Nexstar Broadcasting Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,090,329 shares of the company’s stock valued at $99,457,000 after buying an additional 28,291 shares during the last quarter. Brenner West Capital Advisors LLC increased its stake in shares of Nexstar Broadcasting Group by 9.4% in the second quarter. Brenner West Capital Advisors LLC now owns 1,116,899 shares of the company’s stock valued at $53,142,000 after buying an additional 95,749 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Nexstar Broadcasting Group by 15.0% in the second quarter. Royal Bank of Canada now owns 1,089,500 shares of the company’s stock valued at $51,838,000 after buying an additional 142,373 shares during the last quarter. Tiger Legatus Capital Management LLC increased its stake in shares of Nexstar Broadcasting Group by 57.1% in the second quarter. Tiger Legatus Capital Management LLC now owns 880,000 shares of the company’s stock valued at $41,870,000 after buying an additional 320,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Nexstar Broadcasting Group by 1.1% in the second quarter. JPMorgan Chase & Co. now owns 851,142 shares of the company’s stock valued at $40,498,000 after buying an additional 9,013 shares during the last quarter.

About Nexstar Broadcasting Group

Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.

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