Gabelli & Company Reports on Nexstar Broadcasting Group (NXST)

In a report released earlier today, Gabelli & Company commented on Nexstar Broadcasting (NASDAQ: NXST). In the report, Gabelli was positive on the company.

Gabelli writes, “The company reported first quarter results that were in line with our expectations: total net revenues +1.9% to $69.9 million; broadcast cash flow of $24.8 million -3.1%; adjusted EBITDA of $20.0 million +4.2%. On a gross basis: local revenues of $43.3 million +3.7%; National $15.1 million +2.1%; Total core $58.3 million +3.3%; political $0.56 million v $3.15 million; operating expenses were flattish, while SG&A costs increased about $1.7 million”

Gabelli & Company has a Buy rating on Nexstar. Shares of the company closed at $8.15, down $0.02 from the open.