Impact Capital Partners LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Impact Capital Partners LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,802 shares of the company's stock, valued at approximately $502,000.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Nexstar Media Group by 15.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,947 shares of the company's stock worth $3,493,000 after acquiring an additional 2,929 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Nexstar Media Group by 24.6% in the 4th quarter. State of Alaska Department of Revenue now owns 21,799 shares of the company's stock worth $3,442,000 after acquiring an additional 4,305 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Nexstar Media Group by 11.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 55,810 shares of the company's stock worth $8,816,000 after acquiring an additional 5,936 shares during the last quarter. Empowered Funds LLC grew its holdings in Nexstar Media Group by 13.6% in the 4th quarter. Empowered Funds LLC now owns 25,575 shares of the company's stock worth $4,040,000 after acquiring an additional 3,068 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Nexstar Media Group in the 4th quarter worth $506,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Buying and Selling

In other news, insider Andrew Alford sold 3,768 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. This trade represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Blake Russell sold 424 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $74,424.72. Following the transaction, the executive vice president now owns 21,895 shares of the company's stock, valued at $3,843,229.35. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,033 shares of company stock worth $3,491,901 in the last three months. 6.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NXST. Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Wall Street Zen downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Price Performance

NXST opened at $169.00 on Friday. The stock has a fifty day simple moving average of $160.90 and a two-hundred day simple moving average of $162.10. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $5.16 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. Nexstar Media Group's payout ratio is 37.69%.

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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