Foster & Motley Inc. Increases Position in Nexstar Media Group, Inc. $NXST

Key Points

• Foster & Motley Inc. has increased its holdings in Nexstar Media Group by 7.7%, bringing its total shares to 44,244, worth approximately $7.65 million.
• Several research firms, including Wells Fargo and Guggenheim, have raised their price targets for Nexstar Media Group, with the consensus target now at $225.00 per share.
• Nexstar Media Group reported $1.23 billion in revenue in its latest quarterly earnings, exceeding analysts' expectations, but with a 3.2% year-over-year decline in revenue.

Foster & Motley Inc. increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,244 shares of the company's stock after purchasing an additional 3,181 shares during the period. Foster & Motley Inc. owned 0.15% of Nexstar Media Group worth $7,652,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in shares of Nexstar Media Group by 31.3% in the 1st quarter. Fifth Third Bancorp now owns 713 shares of the company's stock worth $128,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. grew its holdings in Nexstar Media Group by 69.0% in the first quarter. Blue Trust Inc. now owns 1,114 shares of the company's stock valued at $200,000 after purchasing an additional 455 shares during the period. Retirement Systems of Alabama grew its holdings in Nexstar Media Group by 163.4% in the first quarter. Retirement Systems of Alabama now owns 93,391 shares of the company's stock valued at $16,738,000 after purchasing an additional 57,934 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Nexstar Media Group by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock valued at $6,180,000 after buying an additional 624 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Nexstar Media Group during the first quarter worth $3,026,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NXST. 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. Barrington Research restated an "outperform" rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Benchmark upped their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Guggenheim upped 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Seven investment 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 a consensus price target of $225.00.

Nexstar Media Group Trading Up 0.4%

Shares of Nexstar Media Group stock opened at $190.14 on Friday. The company's fifty day simple moving average is $202.24 and its 200-day simple moving average is $180.95. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 1.41 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.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $1.21 billion. During the same period last year, the business earned $3.54 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

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

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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