Westfield Capital Management Co. LP Has $46.45 Million Holdings in Nexstar Broadcasting Group, Inc. (NXST)

Westfield Capital Management Co. LP cut its position in shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) by 27.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 776,783 shares of the company’s stock after selling 290,070 shares during the period. Westfield Capital Management Co. LP owned approximately 1.65% of Nexstar Broadcasting Group worth $46,452,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rovida Advisors Inc. purchased a new position in Nexstar Broadcasting Group during the second quarter worth about $2,912,000. Sei Investments Co. raised its stake in Nexstar Broadcasting Group by 25.1% during the second quarter. Sei Investments Co. now owns 18,239 shares of the company’s stock worth $1,092,000 after purchasing an additional 3,658 shares during the period. Teacher Retirement System of Texas raised its stake in Nexstar Broadcasting Group by 2.8% during the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after purchasing an additional 99 shares during the period. Strs Ohio purchased a new position in Nexstar Broadcasting Group during the first quarter worth about $322,000. Finally, Horizon Investment Services LLC purchased a new position in Nexstar Broadcasting Group during the first quarter worth about $3,926,000.

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NXST has been the topic of a number of analyst reports. BidaskClub raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. ValuEngine raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 target price on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Wednesday. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $77.00.

In other news, CFO Thomas Carter sold 3,125 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $4,307,586. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dennis Miller sold 4,500 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $63.49, for a total transaction of $285,705.00. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.

Shares of Nexstar Broadcasting Group, Inc. (NXST) traded up 1.31% during midday trading on Friday, hitting $57.80. 1,040,242 shares of the company’s stock were exchanged. The firm has a market cap of $2.67 billion, a PE ratio of 23.78 and a beta of 2.27. Nexstar Broadcasting Group, Inc. has a one year low of $47.00 and a one year high of $73.90. The stock’s 50-day moving average price is $61.57 and its 200 day moving average price is $63.62.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.01. The business had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The company’s revenue was up 139.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Equities research analysts forecast that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.08%. Nexstar Broadcasting Group’s payout ratio is currently 48.78%.

Nexstar Broadcasting Group declared that its Board of Directors has authorized a stock buyback program on Monday, June 12th that authorizes the company to buyback $51.30 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About Nexstar Broadcasting Group

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, 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, and digital media services in medium-sized markets in the United States.

Institutional Ownership by Quarter for Nexstar Broadcasting Group (NASDAQ:NXST)

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