CX Institutional Has $7.22 Million Position in Nexstar Media Group, Inc. $NXST

Key Points

• CX Institutional increased its Nexstar Media Group stake by 16% in the second quarter, bringing its holdings to 40,423 shares valued at approximately $7.22 million. Institutional investors collectively own 95.3% of the company.
• Nexstar declared a quarterly dividend of $1.86 per share, equivalent to $7.44 annually and a 3.8% yield, though its payout ratio is elevated at 159.66%.
• NXST opened at $196.25, while analysts maintain a “Moderate Buy” consensus with an average price target of $259.67; six analysts rate it Buy and two rate it Hold.

CX Institutional boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 16.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,423 shares of the company's stock after purchasing an additional 5,567 shares during the period. CX Institutional owned about 0.13% of Nexstar Media Group worth $7,219,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in shares of Nexstar Media Group during the 4th quarter valued at $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at $28,000. WPG Advisers LLC increased its stake in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after acquiring an additional 71 shares during the last quarter. Danske Bank A S acquired a new position in shares of Nexstar Media Group in the third quarter worth $59,000. Finally, State of Wyoming acquired a new position in shares of Nexstar Media Group in the second quarter worth $54,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Up 2.0%

NXST stock opened at $196.25 on Wednesday. The firm has a market cap of $5.99 billion, a PE ratio of 42.11, a PEG ratio of 0.51 and a beta of 0.91. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30. The company has a fifty day simple moving average of $178.86 and a 200 day simple moving average of $201.32. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $1.86 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.8%. Nexstar Media Group's payout ratio is currently 159.66%.

Insider Activity at Nexstar Media Group

In other news, insider Brett Jenkins sold 301 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $51,413.81. Following the transaction, the insider owned 28,798 shares of the company's stock, valued at approximately $4,918,986.38. This represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Blake Russell sold 261 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the completion of the transaction, the executive vice president directly owned 28,296 shares in the company, valued at $4,833,239.76. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 in the last 90 days. Insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barrington Research reissued an "outperform" rating and set a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research downgraded Nexstar Media Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Wall Street Zen lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.67.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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