1,428 Shares in Nexstar Media Group, Inc. $NXST Acquired by Baron Wealth Management LLC

Key Points

• Baron Wealth Management LLC has acquired a new stake in Nexstar Media Group, purchasing 1,428 shares valued at approximately $247,000 during the second quarter.
• Nexstar reported a $3.06 EPS for the quarter, surpassing analyst expectations, though its revenue decreased by 3.2% year-over-year, amounting to $1.23 billion.
• The company recently announced a quarterly dividend of $1.86 per share, yielding 3.6%, with a payout ratio of 38.63%.

Baron Wealth Management LLC acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 1,428 shares of the company's stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock valued at $240,481,000 after buying an additional 10,544 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Nexstar Media Group by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock worth $203,964,000 after purchasing an additional 35,938 shares in the last quarter. Demars Financial Group LLC grew its holdings in shares of Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after acquiring an additional 105,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Nexstar Media Group by 32.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock worth $144,110,000 after acquiring an additional 195,574 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Nexstar Media Group by 7.9% in the first quarter. Northern Trust Corp now owns 499,896 shares of the company's stock valued at $89,591,000 after acquiring an additional 36,757 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST traded up $2.54 during midday trading on Friday, hitting $208.94. The stock had a trading volume of 902,580 shares, compared to its average volume of 284,712. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The stock has a 50 day moving average price of $197.56 and a two-hundred day moving average price of $177.93. The company has a market capitalization of $6.34 billion, a PE ratio of 10.85, a P/E/G ratio of 1.55 and a beta of 1.04.

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

Nexstar Media Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" 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 company a "buy" rating in a report on Friday, August 8th. Barrington Research reissued an "outperform" rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Guggenheim increased their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Zacks Research upgraded Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

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.