DAVENPORT & Co LLC Has $4.50 Million Position in Nexstar Media Group, Inc. $NXST

Key Points

• DAVENPORT & Co LLC reduced its stake in Nexstar Media Group by 7.8% in Q2, owning 26,000 shares worth approximately $4.50 million after selling 2,200 shares.
• Nexstar Media Group reported $3.06 EPS in its latest earnings, exceeding analysts' expectations, but its revenue was down 3.2% year-over-year, totaling $1.23 billion.
• The company announced a quarterly dividend of $1.86 per share, reflecting an annualized dividend yield of 3.6% and a payout ratio of 38.63%.

DAVENPORT & Co LLC lessened its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,000 shares of the company's stock after selling 2,200 shares during the period. DAVENPORT & Co LLC owned approximately 0.09% of Nexstar Media Group worth $4,497,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Nexstar Media Group by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock valued at $240,481,000 after purchasing an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Nexstar Media Group by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock valued at $203,964,000 after purchasing an additional 35,938 shares in the last quarter. Demars Financial Group LLC increased its stake in Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after purchasing an additional 105,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock valued at $144,110,000 after purchasing an additional 195,574 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Nexstar Media Group by 7.9% in the first quarter. Northern Trust Corp now owns 499,896 shares of the company's stock valued at $89,591,000 after purchasing an additional 36,757 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $204.07 on Wednesday. The company's fifty day simple moving average is $200.89 and its 200-day simple moving average is $180.08. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm has a market cap of $6.19 billion, a PE ratio of 10.60, a P/E/G ratio of 1.50 and a beta of 1.01. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.54 earnings per share. Equities 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 Friday, August 29th. Stockholders of record on Friday, August 15th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's payout ratio is currently 38.63%.

Analyst Ratings Changes

Several equities research analysts have commented on NXST shares. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nexstar Media Group in a report on Saturday, September 27th. Benchmark upped their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Guggenheim upped their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company upped their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

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.

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