Nexstar Media Group, Inc. (NASDAQ:NXST) Position Raised by Brown Advisory Inc.

Brown Advisory Inc. lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 58.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 352,165 shares of the company's stock after buying an additional 129,647 shares during the quarter. Brown Advisory Inc. owned approximately 1.15% of Nexstar Media Group worth $63,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new position in shares of Nexstar Media Group during the 1st quarter worth $219,000. TD Private Client Wealth LLC raised its stake in Nexstar Media Group by 47.0% in the 1st quarter. TD Private Client Wealth LLC now owns 1,382 shares of the company's stock valued at $248,000 after purchasing an additional 442 shares during the last quarter. Envestnet Asset Management Inc. raised its stake 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 valued at $14,159,000 after purchasing an additional 294 shares during the last quarter. Penserra Capital Management LLC raised its stake in Nexstar Media Group by 81.0% in the 1st quarter. Penserra Capital Management LLC now owns 5,725 shares of the company's stock valued at $1,025,000 after purchasing an additional 2,562 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its stake in Nexstar Media Group by 18.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,573 shares of the company's stock valued at $282,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Trading Down 2.7%

NXST traded down $4.91 during midday trading on Friday, hitting $180.02. The company's stock had a trading volume of 167,061 shares, compared to its average volume of 377,747. 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 firm has a market cap of $5.49 billion, a P/E ratio of 9.12, a PEG ratio of 1.32 and a beta of 1.04. The firm has a 50-day moving average price of $171.66 and a two-hundred day moving average price of $163.49. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86.

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

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is 37.69%.

Insider Buying and Selling

In other news, insider Dana Zimmer sold 889 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $146,907.25. Following the completion of the sale, the insider owned 6,201 shares in the company, valued at approximately $1,024,715.25. The trade was a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Blake Russell sold 507 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $83,781.75. Following the sale, the executive vice president owned 24,826 shares of the company's stock, valued at $4,102,496.50. The trade was a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock worth $3,666,988 over the last ninety days. Insiders own 6.70% of the company's stock.

Analyst Ratings Changes

NXST has been the subject of several analyst reports. Benchmark cut 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 note on Tuesday, May 6th. Wells Fargo & Company cut 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 note on Thursday, May 1st. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Company 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.