Fox Run Management L.L.C. Takes Position in Nexstar Media Group, Inc. $NXST

Key Points

• Fox Run Management L.L.C. acquired 1,778 shares of Nexstar Media Group, valued at approximately $319,000, indicating strong institutional interest in the company.
• Recent transactions show significant increases in holdings from other hedge funds, with 95.30% of the stock now owned by institutional investors and hedge funds.
• Nexstar Media Group announced a quarterly dividend of $1.86 per share, reflecting a yield of 3.6% and a payout ratio of 38.63%.

Fox Run Management L.L.C. acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,778 shares of the company's stock, valued at approximately $319,000.

Several other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after acquiring an additional 4,704 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Nexstar Media Group by 3.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock worth $203,964,000 after purchasing an additional 35,938 shares during the period. Demars Financial Group LLC raised its stake 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 worth $157,580,000 after purchasing an additional 105,516 shares during the period. Northern Trust Corp raised its stake in shares of Nexstar Media Group by 22.3% during the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after purchasing an additional 84,367 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Nexstar Media Group by 15.5% during the 4th quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after purchasing an additional 56,935 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 510 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $84,277.50. Following the sale, the insider directly owned 8,229 shares in the company, valued at $1,359,842.25. This represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dana Zimmer sold 889 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the sale, the insider owned 6,201 shares in the company, valued at approximately $1,024,715.25. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,021 shares of company stock worth $2,885,352 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $2.22 during midday trading on Friday, reaching $207.06. The stock had a trading volume of 283,097 shares, compared to its average volume of 430,769. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The firm's 50-day moving average price is $185.70 and its 200 day moving average price is $171.09. The firm has a market capitalization of $6.28 billion, a PE ratio of 10.75, a P/E/G ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80.

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 (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 business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the previous year, the business posted $3.54 EPS. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, August 15th. 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.