Croban Buys Shares of 4,301 Nexstar Media Group, Inc. (NASDAQ:NXST)

Croban bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,301 shares of the company's stock, valued at approximately $771,000.

Other hedge funds have also recently modified their holdings of the company. Demars Financial Group LLC lifted its holdings in Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares during the period. Norges Bank purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $44,460,000. Invesco Ltd. boosted its stake in shares of Nexstar Media Group by 185.0% during the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company's stock worth $34,684,000 after acquiring an additional 142,520 shares in the last quarter. Brown Advisory Inc. lifted its stake in 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Nexstar Media Group in the 1st quarter worth approximately $17,574,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded down $4.91 during midday trading on Friday, reaching $180.02. 167,061 shares of the company were exchanged, compared to its average volume of 377,185. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The stock has a fifty day simple moving average of $171.66 and a 200 day simple moving average of $163.46. The stock has a market cap of $5.49 billion, a P/E ratio of 9.12, a PEG ratio of 1.36 and a beta of 1.04.

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

Nexstar Media Group Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on NXST shares. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Benchmark dropped their price target 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. Finally, Wells Fargo & Company dropped their price target 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Buying and Selling

In other Nexstar Media Group news, EVP Rachel Morgan sold 329 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $54,367.25. Following the completion of the transaction, the executive vice president directly owned 2,122 shares in the company, valued at approximately $350,660.50. This trade represents a 13.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Zimmer sold 889 shares of Nexstar Media Group 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 sale, the insider owned 6,201 shares of the company's stock, valued at approximately $1,024,715.25. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is currently owned by insiders.

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.