1,969 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by First National Advisers LLC

Key Points

• First National Advisers LLC acquired 1,969 shares of Nexstar Media Group, valued at approximately $353,000, marking a significant new investment in the company during the first quarter.
• Nexstar Media Group reported $3.37 EPS for the most recent quarter, surpassing analysts' expectations of $3.26, despite a 3.9% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.86 per share, resulting in an annualized yield of 3.92% with a payout ratio of 37.69%.

First National Advisers LLC acquired a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,969 shares of the company's stock, valued at approximately $353,000.

Several other large investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC raised its position in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after purchasing an additional 274 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after purchasing an additional 404 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Nexstar Media Group by 186.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock valued at $81,000 after purchasing an additional 295 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insiders Place Their Bets

In other Nexstar Media Group news, COO Michael Biard sold 2,182 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $378,773.38. Following the transaction, the chief operating officer owned 7,218 shares in the company, valued at $1,252,972.62. The trade was a 23.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sean Compton sold 1,088 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $190,976.64. Following the completion of the transaction, the insider owned 12,096 shares in the company, valued at approximately $2,123,210.88. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,474 shares of company stock worth $3,666,988. Insiders own 6.70% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut their price objective on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded down $1.62 during mid-day trading on Thursday, reaching $185.98. The company had a trading volume of 85,115 shares, compared to its average volume of 420,061. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $192.36. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.39 and a beta of 1.04. The business's 50-day simple moving average is $176.28 and its 200 day simple moving average is $165.92.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $5.16 earnings per share. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is presently 37.69%.

About Nexstar Media Group

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.