Forefront Analytics LLC Purchases New Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• Forefront Analytics LLC acquired a new stake in Nexstar Media Group, purchasing 4,346 shares valued at approximately $752,000 in the second quarter.
• Several analysts have raised their target prices for Nexstar Media Group, with ratings moving from $206.00 up to $250.00, indicating a positive outlook for the company's stock.
• Nexstar Media Group recently announced a quarterly dividend of $1.86, representing an annualized yield of 3.9% and a payout ratio of 38.63%.

Forefront Analytics LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,346 shares of the company's stock, valued at approximately $752,000.

Other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of Nexstar Media Group during the 1st quarter valued at $218,000. UMB Bank n.a. raised its position in shares of Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after acquiring an additional 218 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Nexstar Media Group by 31.3% during the 1st quarter. Fifth Third Bancorp now owns 713 shares of the company's stock valued at $128,000 after acquiring an additional 170 shares during the last quarter. Trust Point Inc. raised its position in shares of Nexstar Media Group by 5.4% during the 1st quarter. Trust Point Inc. now owns 2,334 shares of the company's stock valued at $418,000 after acquiring an additional 119 shares during the last quarter. Finally, Demars Financial Group LLC raised its position in shares of Nexstar Media Group by 13.6% during the 1st quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after acquiring an additional 105,516 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on NXST shares. Benchmark upped their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Barrington Research reissued an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Tuesday, August 19th. Wells Fargo & Company boosted 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. Guggenheim boosted 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, Weiss Ratings reissued a "buy (b)" rating on shares of Nexstar Media Group in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $192.53 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of 10.00, a PEG ratio of 1.48 and a beta of 1.01. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $223.36. The company has a fifty day moving average price of $201.60 and a 200 day moving average price of $180.47.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its 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. The firm had revenue of $1.23 billion during 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 company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.54 EPS. Research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. Nexstar Media Group's dividend payout ratio is presently 38.63%.

Nexstar Media Group 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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