Brandywine Global Investment Management LLC Has $18.36 Million Stock Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• Brandywine Global Investment Management LLC increased its stake in Nexstar Media Group by 7.5%, now owning approximately 102,464 shares valued at around $18.36 million.
• Several other large investors have made significant adjustments to their positions in Nexstar, with notable increases of over 800% in stakes from firms like Whipplewood Advisors LLC and Caitong International Asset Management Co. Ltd.
• Nexstar recently declared a quarterly dividend of $1.86, representing a 3.6% yield, with a payout ratio of 38.63%.

Brandywine Global Investment Management LLC raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,464 shares of the company's stock after purchasing an additional 7,173 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.34% of Nexstar Media Group worth $18,364,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NXST. Dimensional Fund Advisors LP lifted its holdings in shares of Nexstar Media Group by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock worth $240,481,000 after acquiring an additional 10,544 shares during the period. Fox Run Management L.L.C. acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $319,000. Kovitz Investment Group Partners LLC increased its position in Nexstar Media Group by 36.3% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 8,628 shares of the company's stock worth $1,546,000 after purchasing an additional 2,300 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in Nexstar Media Group by 13.7% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 3,805 shares of the company's stock worth $682,000 after purchasing an additional 459 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Nexstar Media Group by 2,293.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock worth $69,000 after purchasing an additional 367 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 510 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the sale, the insider directly owned 8,229 shares in the company, valued at $1,359,842.25. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Blake Russell sold 507 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $83,781.75. Following the sale, the executive vice president owned 24,826 shares of the company's stock, valued at approximately $4,102,496.50. This trade represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,021 shares of company stock valued at $2,885,352 over the last 90 days. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Trading Down 1.2%

Shares of NXST traded down $2.4550 during trading hours on Wednesday, hitting $205.2750. 511,714 shares of the stock were exchanged, compared to its average volume of 424,420. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The business has a 50-day moving average of $183.57 and a 200-day moving average of $170.02. The firm has a market capitalization of $6.22 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share 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 during the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the prior year, the company posted $3.54 earnings per share. Nexstar Media Group's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NXST. Barrington Research reiterated an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Guggenheim upped their price target 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. Benchmark upped their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company upped their price target 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. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average price target 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.