1,734 Shares in Nexstar Media Group, Inc. $NXST Purchased by Lynx Investment Advisory

Key Points

• Lynx Investment Advisory acquired 1,734 shares of Nexstar Media Group, Inc., valued at approximately $311,000, marking a new position for the institutional investor in the company's stock.
• Several institutional investors, including Deutsche Bank AG and Focus Partners Wealth, have recently increased their positions in Nexstar Media Group, with institutional ownership now at 95.30%.
• Nexstar Media Group announced a quarterly dividend of $1.86 per share, resulting in an annualized dividend yield of 3.6% and demonstrating the company's commitment to returning value to its shareholders.

Lynx Investment Advisory acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,734 shares of the company's stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NXST. Deutsche Bank AG grew its position in Nexstar Media Group by 7.9% in the 4th quarter. Deutsche Bank AG now owns 3,451 shares of the company's stock worth $545,000 after purchasing an additional 252 shares during the last quarter. Focus Partners Wealth grew its position in Nexstar Media Group by 7.3% in the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company's stock worth $273,000 after purchasing an additional 117 shares during the last quarter. Janus Henderson Group PLC grew its position in Nexstar Media Group by 3.6% in the 4th quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock worth $2,223,000 after purchasing an additional 494 shares during the last quarter. Lazard Asset Management LLC bought a new position in Nexstar Media Group in the 4th quarter worth about $2,314,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Nexstar Media Group in the 4th quarter worth about $1,677,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

NXST has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Guggenheim upped their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Benchmark upped their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Barrington Research restated an "outperform" rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $225.00.

Insider Activity

In related news, EVP Lee Ann Gliha sold 757 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the executive vice president directly owned 12,826 shares in the company, valued at approximately $2,119,496.50. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rachel Morgan sold 329 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $54,367.25. Following the sale, the executive vice president owned 2,122 shares of the company's stock, valued at $350,660.50. The trade was a 13.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,209 shares of company stock valued at $860,787 in the last ninety days. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Trading Up 4.5%

Nexstar Media Group stock opened at $206.22 on Friday. The firm has a 50 day simple moving average of $194.63 and a 200-day simple moving average of $176.04. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $6.25 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business's revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $3.54 earnings per share. As a group, equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 38.63%.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.

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