CX Institutional Buys 6,926 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

CX Institutional lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 438.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,505 shares of the company's stock after purchasing an additional 6,926 shares during the quarter. CX Institutional's holdings in Nexstar Media Group were worth $1,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Entropy Technologies LP bought a new stake in Nexstar Media Group in the 4th quarter valued at $506,000. KLP Kapitalforvaltning AS bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $1,264,000. Empowered Funds LLC boosted its position in shares of Nexstar Media Group by 13.6% during the 4th quarter. Empowered Funds LLC now owns 25,575 shares of the company's stock valued at $4,040,000 after purchasing an additional 3,068 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Nexstar Media Group by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after acquiring an additional 19,116 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Nexstar Media Group by 97.9% during the fourth quarter. Victory Capital Management Inc. now owns 40,711 shares of the company's stock valued at $6,431,000 after buying an additional 20,140 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Blake Russell sold 424 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $74,424.72. Following the completion of the transaction, the executive vice president now owns 21,895 shares in the company, valued at approximately $3,843,229.35. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the sale, the insider now owns 5,405 shares of the company's stock, valued at approximately $983,601.90. This represents a 41.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,033 shares of company stock valued at $3,491,901. 6.70% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Down 1.9%

NASDAQ:NXST traded down $3.21 during midday trading on Thursday, hitting $169.17. 165,019 shares of the company were exchanged, compared to its average volume of 387,231. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.16 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. The company has a fifty day simple moving average of $161.11 and a 200 day simple moving average of $162.18.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its 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 net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the business posted $5.16 earnings per share. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. Nexstar Media Group's dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

A number of analysts have issued reports on NXST shares. Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Wall Street Zen lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Barrington Research restated an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.