Kendall Capital Management Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Kendall Capital Management boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,234 shares of the company's stock after buying an additional 1,635 shares during the period. Kendall Capital Management's holdings in Nexstar Media Group were worth $2,193,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group in the 4th quarter valued at $25,000. Whipplewood Advisors LLC raised its position in Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after buying an additional 274 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after purchasing an additional 404 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Nexstar Media Group by 68.6% in the first quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded up $2.31 during trading hours on Wednesday, reaching $180.17. The stock had a trading volume of 130,148 shares, compared to its average volume of 375,985. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a 50 day simple moving average of $166.70 and a 200 day simple moving average of $162.28. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The stock has a market cap of $5.50 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $5.16 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.13%. Nexstar Media Group's payout ratio is 37.69%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark decreased their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total value of $249,448.83. Following the completion of the transaction, the executive vice president directly owned 10,923 shares in the company, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Compton sold 1,088 shares of Nexstar Media Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $190,976.64. Following the completion of the transaction, the insider owned 12,096 shares of the company's stock, valued at approximately $2,123,210.88. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,474 shares of company stock worth $3,666,988 over the last three months. Company insiders own 6.70% of the company's stock.

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.