Nexstar Media Group, Inc. (NASDAQ:NXST) Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 48.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 139,926 shares of the company's stock after purchasing an additional 45,767 shares during the period. Allianz Asset Management GmbH owned about 0.46% of Nexstar Media Group worth $25,078,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NXST. D.A. Davidson & CO. bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $323,000. Crossmark Global Holdings Inc. bought a new stake in Nexstar Media Group in the 1st quarter worth $219,000. Cambridge Investment Research Advisors Inc. grew its holdings in Nexstar Media Group by 1.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after acquiring an additional 624 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Nexstar Media Group in the 4th quarter worth $1,264,000. Finally, Envestnet Asset Management Inc. grew its holdings in Nexstar Media Group by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,002 shares of the company's stock worth $14,159,000 after acquiring an additional 294 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, EVP Lee Ann Gliha sold 1,437 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 $249,448.83. Following the completion of the sale, the executive vice president owned 10,923 shares in the company, valued at $1,896,123.57. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Compton sold 1,088 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $190,976.64. Following the sale, the insider owned 12,096 shares of the company's stock, valued at approximately $2,123,210.88. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,474 shares of company stock worth $3,666,988. Corporate insiders own 6.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Benchmark dropped their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Trading Down 0.1%

NASDAQ NXST traded down $0.27 during trading hours on Friday, reaching $189.60. The company had a trading volume of 282,307 shares, compared to its average volume of 290,214. The stock has a 50-day moving average of $175.32 and a 200 day moving average of $165.26. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $192.21. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $5.78 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.

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

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 3.92%. Nexstar Media Group's payout ratio is currently 37.69%.

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.