Todays Report: Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in Nexstar Broadcasting Group Inc. (NXST)

Today, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Raises Stake in Nexstar Broadcasting Group Inc. (NXST)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Nexstar Broadcasting Group Inc. (NASDAQ:NXST) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 50,650 shares of the company’s stock after buying an additional 510 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.17% of Nexstar Broadcasting Group worth $2,923,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Keeley Asset Management Corp acquired a new position in Nexstar Broadcasting Group during the second quarter valued at $38,206,000. Yost Capital Management L.L.C. purchased a new stake in shares of Nexstar Broadcasting Group during the second quarter valued at approximately $22,283,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Nexstar Broadcasting Group during the second quarter valued at approximately $21,809,000. 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 in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Nexstar Broadcasting Group by 41.1% in the first quarter. Royal Bank of Canada now owns 947,127 shares of the company’s stock valued at $41,929,000 after buying an additional 276,025 shares in the last quarter.

Nexstar Broadcasting Group Inc. (NASDAQ:NXST) opened at 59.70 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 19.23 and a beta of 2.17. The company’s 50-day moving average is $53.74 and its 200 day moving average is $52.52. Nexstar Broadcasting Group Inc. has a 52-week low of $34.65 and a 52-week high of $61.79.

Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.07. The company earned $275.70 million during the quarter, compared to the consensus estimate of $62.05 million. Nexstar Broadcasting Group had a net margin of 9.39% and a return on equity of 64.45%. The business’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Equities analysts forecast that Nexstar Broadcasting Group Inc. will post $3.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, November 2nd. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 30.87%.

Several analysts have recently commented on NXST shares. Stephens set a $65.00 target price on shares of Nexstar Broadcasting Group and gave the company a “buy” rating in a report on Wednesday, September 28th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “strong sell” rating to a “hold” rating and set a $63.00 target price for the company in a report on Wednesday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price on shares of Nexstar Broadcasting Group in a report on Wednesday, September 28th. Barrington Research increased their target price on shares of Nexstar Broadcasting Group from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, November 14th. Finally, Wedbush increased their target price on shares of Nexstar Broadcasting Group from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Nexstar Broadcasting Group currently has a consensus rating of “Buy” and a consensus target price of $66.88.

In other news, Director Lisbeth Mcnabb sold 950 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $60.60, for a total transaction of $57,570.00. Following the sale, the director now owns 950 shares in the company, valued at approximately $57,570. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.80% of the company’s stock.

Nexstar Broadcasting Group Company Profile

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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