Delta Investment Management LLC Has $213,000 Stake in Nexstar Media Group, Inc. $NXST

Key Points

• Delta Investment Management LLC significantly reduced its stake in Nexstar Media Group, Inc. by 55.7% during the first quarter, leaving it with holdings worth $213,000.
• In a recent quarterly earnings report, Nexstar Media Group exceeded expectations with earnings per share of $3.06, beating the consensus estimate of $2.95.
• The company declared a quarterly dividend of $1.86, resulting in an annualized dividend of $7.44 and a yield of 3.6%.

Delta Investment Management LLC trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 55.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,187 shares of the company's stock after selling 1,494 shares during the period. Delta Investment Management LLC's holdings in Nexstar Media Group were worth $213,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NXST. Mariner LLC increased its holdings in shares of Nexstar Media Group by 5.3% during the fourth quarter. Mariner LLC now owns 2,300 shares of the company's stock valued at $363,000 after purchasing an additional 115 shares during the period. Boothbay Fund Management LLC grew its holdings in Nexstar Media Group by 61.5% during the fourth quarter. Boothbay Fund Management LLC now owns 3,734 shares of the company's stock worth $590,000 after acquiring an additional 1,422 shares during the period. Northern Trust Corp grew its holdings in Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after acquiring an additional 84,367 shares during the period. AQR Capital Management LLC grew its holdings in Nexstar Media Group by 15.5% during the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after acquiring an additional 56,935 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Nexstar Media Group by 16.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,091 shares of the company's stock worth $804,000 after acquiring an additional 736 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Sean Compton sold 850 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $140,462.50. Following the transaction, the insider directly owned 15,272 shares of the company's stock, valued at $2,523,698. The trade was a 5.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Alford sold 757 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $125,094.25. Following the sale, the insider directly owned 10,528 shares in the company, valued at $1,739,752. The trade was a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,291 shares of company stock worth $1,543,502 in the last three months. 6.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NXST shares. Zacks Research raised Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Guggenheim increased their price target on Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Barrington Research reiterated an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Benchmark increased their price target on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company increased their price target on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Nexstar Media Group Stock Down 1.5%

NASDAQ NXST traded down $2.97 during trading on Tuesday, reaching $201.56. 40,249 shares of the company's stock were exchanged, compared to its average volume of 421,785. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The company's fifty day simple moving average is $189.95 and its 200-day simple moving average is $173.45. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm has a market capitalization of $6.11 billion, a PE ratio of 10.47, a P/E/G ratio of 1.52 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business earned $3.54 EPS. The business's quarterly revenue was down 3.2% on a year-over-year basis. Sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.7%. Nexstar Media Group's dividend payout ratio (DPR) is 38.63%.

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.