Stock Worth Mentioning: What’s in Nexstar Broadcasting Group, Inc. After Today’s Huge Decline?

Stock Worth Mentioning: What's in Nexstar Broadcasting Group, Inc. After Today's Huge Decline?

The stock of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) is a huge mover today! About 659,328 shares traded hands or 10.31% up from the average. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has risen 11.99% since March 11, 2016 and is uptrending. It has outperformed by 6.53% the S&P500.
The move comes after 6 months negative chart setup for the $1.58 billion company. It was reported on Oct, 14 by Barchart.com. We have $50.44 PT which if reached, will make NASDAQ:NXST worth $79.00M less.

Analysts await Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) to report earnings on November, 1. They expect $0.87 EPS, up 61.11% or $0.33 from last year’s $0.54 per share. NXST’s profit will be $25.89M for 15.26 P/E if the $0.87 EPS becomes a reality. After $0.78 actual EPS reported by Nexstar Broadcasting Group, Inc. for the previous quarter, Wall Street now forecasts 11.54% EPS growth.

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Ratings Coverage

Out of 2 analysts covering Nexstar Broadcasting Group (NASDAQ:NXST), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Nexstar Broadcasting Group has been the topic of 8 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks on Wednesday, August 5 to “Hold”. The rating was upgraded by Jefferies to “Buy” on Tuesday, September 29. Stephens initiated the stock with “Overweight” rating in Wednesday, November 18 report. The rating was initiated by Barrington Research with “Outperform” on Tuesday, December 22.

According to Zacks Investment Research, “Nexstar Broadcasting Group currently owns, operates, programs or provides sales and other services to television stations in the states of Illinois, Indiana, Maryland, Missouri, Montana, Texas, Pennsylvania, Louisiana, Arkansas, Alabama and New York. Nexstar’s television station group includes affiliates of NBC, CBS, ABC, FOX and UPN.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.79, from 1.82 in 2016Q1. The ratio dropped, as 18 funds sold all Nexstar Broadcasting Group, Inc. shares owned while 59 reduced positions. 21 funds bought stakes while 58 increased positions. They now own 36.06 million shares or 0.10% more from 36.02 million shares in 2016Q1.
Tiger Legatus Cap Management Limited Liability Company last reported 12.67% of its portfolio in the stock. Navellier & Assoc Inc holds 0.07% or 10,093 shares in its portfolio. Kingdon Capital Management accumulated 683,469 shares or 1.79% of the stock. Principal Fincl Gp has invested 0% of its portfolio in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST). Great West Life Assurance Can reported 3,465 shares or 0% of all its holdings. First Savings Bank Of Omaha has 0.05% invested in the company for 13,225 shares. Apriem holds 0.01% of its portfolio in Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) for 400 shares. Roystone Capital Mgmt Lp holds 2.96% or 988,800 shares in its portfolio. Boothbay Fund Mgmt Ltd Liability Company accumulated 16,470 shares or 0.37% of the stock. First Tru Advisors Limited Partnership reported 9,398 shares or 0% of all its holdings. Fincl Bank Of Montreal Can last reported 278 shares in the company. Orinda Asset holds 0.3% or 6,115 shares in its portfolio. Invesco Limited holds 604,746 shares or 0.01% of its portfolio. Bnp Paribas Investment Prtn Sa owns 55,990 shares or 0.02% of their US portfolio. Penn Capital, a Pennsylvania-based fund reported 501,654 shares.

Insider Transactions: Since August 11, 2016, the stock had 0 insider purchases, and 2 selling transactions for $587,479 net activity. $523,800 worth of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) shares were sold by Russell Blake. Carter Thomas also sold $63,679 worth of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) on Thursday, August 11.

More recent Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) news were published by: Nasdaq.com which released: “Commit To Buy Nexstar Broadcasting Group At $40, Earn 6.5% Annualized Using …” on October 13, 2016. Also Prnewswire.com published the news titled: “In Largest Multicast Network Distribution Launch in History, Nexstar …” on June 15, 2016. Businesswire.com‘s news article titled: “Nexstar Broadcasting Group Enters into Definitive Agreement to Acquire Media …” with publication date: January 27, 2016 was also an interesting one.

NXST Company Profile

Nexstar Broadcasting Group, Inc. (Nexstar), incorporated on May 17, 2001, is a television broadcasting and digital media company. The Firm 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 divisions include Broadcasting and Other. The Company’s broadcast segment includes television stations and related community focused Websites that Nexstar owns, operates, programs or provides sales and other services to in various markets across the United States. The Firm owns, operates, programs or provides sales and other services to approximately 100 full power television stations in over 60 markets in the states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, Missouri, Montana, Nevada, New York, Pennsylvania, Tennessee, Texas, Utah, Vermont, Virginia, West Virginia and Wisconsin.

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