152,766 Shares in Nexstar Media Group, Inc. $NXST Purchased by Ancora Advisors LLC

Key Points

• Ancora Advisors acquired 152,766 Nexstar shares worth approximately $5.5 million, representing about 0.5% of the company. Institutional investors collectively own 95.3% of NXST.
• Nexstar shares opened at $185.52 after declining 2%, while the company’s latest quarterly earnings missed analyst expectations despite revenue rising 62.2% year over year.
• The company declared a quarterly dividend of $1.86 per share, equivalent to a 4.0% annualized yield, but its 142.8% payout ratio is elevated. Analysts maintain a “Moderate Buy” consensus with a $259 average price target.

Ancora Advisors LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 152,766 shares of the company's stock, valued at approximately $5,501,000. Ancora Advisors LLC owned about 0.50% of Nexstar Media Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Nexstar Media Group in the 1st quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nexstar Media Group by 49.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company's stock valued at $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC grew its position in Nexstar Media Group by 571.4% during the first quarter. Millennium Management LLC now owns 72,650 shares of the company's stock valued at $13,020,000 after buying an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company's stock worth $23,802,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Nexstar Media Group in the first quarter worth about $654,000. 95.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bernadette S. Aulestia sold 300 shares of the business's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the transaction, the director directly owned 4,383 shares in the company, valued at $818,744.40. The trade was a 6.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Zimmer sold 4,008 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider owned 1,792 shares in the company, valued at $335,928.32. The trade was a 69.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 19,586 shares of company stock worth $3,522,616. Company insiders own 7.00% of the company's stock.

Nexstar Media Group Trading Down 2.0%

NASDAQ NXST opened at $185.52 on Thursday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 35.61 and a beta of 0.91. The company's 50-day simple moving average is $181.89 and its two-hundred day simple moving average is $198.48. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56. Nexstar Media Group, Inc. has a one year low of $154.47 and a one year high of $254.30.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts' consensus estimates of $5.98 by ($2.37). The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The business's quarterly revenue was up 62.2% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. Equities analysts forecast that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. Nexstar Media Group's payout ratio is 142.80%.

Analyst Ratings Changes

Several brokerages have recently commented on NXST. Wall Street Zen downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Finally, Zacks Research lowered Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus price target of $259.00.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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