D.A. Davidson & CO. Purchases Shares of 1,802 Nexstar Media Group, Inc. (NASDAQ:NXST)

D.A. Davidson & CO. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,802 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after buying an additional 4,704 shares during the period. Demars Financial Group LLC raised its holdings in Nexstar Media Group by 13.6% during the 1st quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after buying an additional 105,516 shares during the period. Northern Trust Corp raised its holdings in Nexstar Media Group by 22.3% during the 4th 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 during the period. AQR Capital Management LLC raised its holdings in Nexstar Media Group by 15.5% during the 4th 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 during the period. Finally, Norges Bank acquired a new stake in Nexstar Media Group during the 4th quarter worth about $44,460,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, EVP Lee Ann Gliha sold 1,437 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares in the company, valued at $1,896,123.57. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dana Zimmer sold 1,151 shares of the stock in a transaction that occurred on 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 owned 3,141 shares in the company, valued at approximately $551,339.73. This trade represents a 26.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,474 shares of company stock worth $3,666,988 in the last ninety days. Insiders own 6.70% of the company's stock.

Nexstar Media Group Price Performance

Shares of NXST opened at $180.02 on Friday. The firm has a market cap of $5.49 billion, a PE ratio of 9.12, a PEG ratio of 1.36 and a beta of 1.04. The firm's 50 day moving average price is $171.66 and its 200 day moving average price is $163.46. 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 twelve month low of $141.66 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm 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 company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 earnings per share. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.86 per share. 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 payout ratio is presently 37.69%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NXST. 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 reduced 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 report on Tuesday, May 6th. Finally, Wells Fargo & Company reduced 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 report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

About Nexstar Media Group

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.

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