EP Wealth Advisors LLC Makes New $325,000 Investment in Nexstar Media Group, Inc. $NXST

Key Points

• EP Wealth Advisors LLC has invested approximately $325,000 in Nexstar Media Group by acquiring 1,812 shares during the first quarter, indicating growing interest from institutional investors.
• Nexstar Media Group reported an EPS of $3.06 for the last quarter, surpassing analysts' expectations, though its revenue declined by 3.2% year-over-year.
• The company has declared a quarterly dividend of $1.86 per share, leading to an annualized dividend yield of 3.6%, highlighting its ongoing commitment to return value to shareholders.

EP Wealth Advisors LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,812 shares of the company's stock, valued at approximately $325,000.

Other hedge funds have also recently made changes to their positions in the company. Whipplewood Advisors LLC grew its stake in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after buying an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in Nexstar Media Group by 2,293.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after acquiring an additional 367 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Nexstar Media Group by 62.3% during the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after purchasing an additional 154 shares during the period. Versant Capital Management Inc lifted its position in shares of Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after purchasing an additional 404 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock valued at $81,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Transactions at Nexstar Media Group

In other news, insider Brett Jenkins sold 610 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $100,802.50. Following the completion of the transaction, the insider owned 25,616 shares in the company, valued at $4,233,044. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 757 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the insider owned 10,528 shares of the company's stock, valued at $1,739,752. This trade represents a 6.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,209 shares of company stock valued at $860,787 in the last three months. Insiders own 6.70% of the company's stock.

Nexstar Media Group Stock Performance

NASDAQ NXST traded up $0.73 during trading hours on Friday, hitting $206.95. 301,153 shares of the stock were exchanged, compared to its average volume of 364,465. 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 company has a market cap of $6.27 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The stock has a 50-day moving average of $195.15 and a 200 day moving average of $176.64.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.54 EPS. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio is currently 38.63%.

Analyst Ratings Changes

NXST has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Barrington Research reaffirmed an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Tuesday, August 19th. Guggenheim raised their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Benchmark boosted their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently 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.