Alps Advisors Inc. Purchases New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Alps Advisors Inc. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,060 shares of the company's stock, valued at approximately $369,000.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Nexstar Media Group by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after purchasing an additional 4,704 shares during the last quarter. Demars Financial Group LLC increased its position in shares of Nexstar Media Group by 13.6% in the 1st quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after purchasing an additional 105,516 shares during the last quarter. Northern Trust Corp increased its position in shares of Nexstar Media Group by 22.3% in the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after purchasing an additional 84,367 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Nexstar Media Group by 15.5% in the 4th quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after purchasing an additional 56,935 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Nexstar Media Group by 58.3% in the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after purchasing an additional 129,647 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, insider Dana Zimmer sold 1,151 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $202,035.03. Following the sale, the insider owned 3,141 shares of the company's stock, valued at $551,339.73. The trade was a 26.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Ann Gliha sold 1,437 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $249,448.83. Following the completion of the sale, the executive vice president directly owned 10,923 shares in the company, valued at approximately $1,896,123.57. This represents a 11.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,474 shares of company stock worth $3,666,988 in the last ninety days. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Price Performance

NXST traded up $0.78 during midday trading on Friday, hitting $184.85. The company had a trading volume of 379,761 shares, compared to its average volume of 375,612. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The firm's 50-day simple moving average is $174.00 and its 200-day simple moving average is $164.28. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market capitalization of $5.64 billion, a PE ratio of 9.36, a P/E/G ratio of 1.35 and a beta of 1.04.

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 the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company earned $5.16 EPS. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend 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.