American Century Companies Inc. Buys 1,764 Shares of Nexstar Media Group, Inc. $NXST

American Century Companies Inc. grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 25.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,784 shares of the company's stock after purchasing an additional 1,764 shares during the quarter. American Century Companies Inc.'s holdings in Nexstar Media Group were worth $1,574,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its stake in shares of Nexstar Media Group by 830.3% during 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after purchasing an additional 367 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Nexstar Media Group by 62.3% during the first 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% during the first 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. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Nexstar Media Group by 186.7% during the first 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. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NXST. Wells Fargo & Company lifted their price target on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Zacks Research upgraded Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Guggenheim raised their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Barrington Research restated an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Benchmark raised their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $225.00.

Nexstar Media Group Trading Up 0.8%

Shares of NASDAQ:NXST traded up $1.61 during mid-day trading on Friday, hitting $208.27. The company had a trading volume of 209,447 shares, compared to its average volume of 423,060. The firm has a fifty day moving average price of $192.57 and a 200 day moving average price of $174.61. The company has a market capitalization of $6.31 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $223.36.

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

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. Nexstar Media Group's payout ratio is currently 38.63%.

Insider Buying and Selling

In other news, insider Sean Compton sold 850 shares of the business'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 $140,462.50. Following the completion of the sale, the insider owned 15,272 shares in the company, valued at $2,523,698. The trade was a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 757 shares of the business'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 value of $125,094.25. Following the sale, the insider owned 10,528 shares of the company's stock, valued at approximately $1,739,752. This represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,209 shares of company stock worth $860,787 over the last ninety days. 6.70% of the stock is owned by company insiders.

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.