Gamco Investors INC. ET AL Reduces Stock Position in Nexstar Media Group, Inc. $NXST

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Nexstar Media Group by 2.1%, selling 1,518 shares and now holding 69,712 shares valued at approximately $12.5 million.
• Institutional investors own 95.30% of Nexstar Media Group, with notable increases in holdings from firms like Victory Capital Management, which grew its stake by 611.5%.
• Nexstar announced a quarterly dividend of $1.86, representing a 3.6% yield, scheduled for payment to stockholders of record by August 29th.

Gamco Investors INC. ET AL lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,712 shares of the company's stock after selling 1,518 shares during the period. Gamco Investors INC. ET AL owned approximately 0.23% of Nexstar Media Group worth $12,494,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock valued at $240,481,000 after purchasing an additional 10,544 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Nexstar Media Group by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock valued at $203,964,000 after purchasing an additional 35,938 shares during the last quarter. Demars Financial Group LLC lifted its stake in Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after purchasing an additional 105,516 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock valued at $144,110,000 after purchasing an additional 195,574 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Nexstar Media Group by 7.9% in the first quarter. Northern Trust Corp now owns 499,896 shares of the company's stock valued at $89,591,000 after purchasing an additional 36,757 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded up $3.40 during trading on Monday, hitting $204.53. The stock had a trading volume of 408,776 shares, compared to its average volume of 454,577. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.52 and a beta of 1.04. 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 12 month low of $141.66 and a 12 month high of $223.36. The business's 50-day moving average is $189.35 and its 200 day moving average is $173.09.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations 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 was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.54 earnings per share. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company 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. 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%.

Insiders Place Their Bets

In related news, insider Sean Compton sold 850 shares of the stock in a transaction 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 owned 15,272 shares of the company's stock, valued at $2,523,698. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $146,907.25. Following the sale, the insider owned 6,201 shares of the company's stock, valued at approximately $1,024,715.25. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,291 shares of company stock valued at $1,543,502 over the last quarter. Insiders own 6.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company upped their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Guggenheim boosted their target price 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. Benchmark boosted their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Barrington Research reissued an "outperform" rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.