Croban Acquires New Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Croban purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,301 shares of the company's stock, valued at approximately $771,000.

A number of other hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Nexstar Media Group by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after purchasing an additional 4,704 shares in the last quarter. Demars Financial Group LLC raised its position in shares of Nexstar Media Group by 13.6% during the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after buying an additional 105,516 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Nexstar Media Group by 22.3% in the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after buying an additional 84,367 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 15.5% in the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after buying an additional 56,935 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Nexstar Media Group by 58.3% during the first quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after acquiring an additional 129,647 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Trading Up 2.2%

NASDAQ NXST traded up $3.95 on Monday, hitting $183.97. 170,974 shares of the stock were exchanged, compared to its average volume of 432,819. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The firm has a market capitalization of $5.61 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.32 and a beta of 1.04. The stock has a fifty day moving average price of $171.66 and a two-hundred day moving average price of $163.51.

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

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Wall Street Analyst Weigh In

Several research analysts have commented on NXST shares. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Benchmark dropped their price target on 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, Barrington Research restated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Insiders Place Their Bets

In other news, insider Dana Zimmer sold 1,151 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $202,035.03. Following the transaction, the insider directly owned 3,141 shares in the company, valued at approximately $551,339.73. This represents a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Biard sold 2,182 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $378,773.38. Following the completion of the sale, the chief operating officer directly owned 7,218 shares of the company's stock, valued at approximately $1,252,972.62. This trade represents a 23.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock worth $3,666,988 in the last 90 days. 6.70% of the stock is owned by insiders.

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.