Kiltearn Partners LLP Invests $5.26 Million in Nexstar Media Group, Inc. $NXST

Key Points

• Kiltearn Partners LLP acquired 146,131 Nexstar shares worth approximately $5.26 million, representing about 0.47% of the company and 1.3% of the firm’s portfolio. Institutional investors collectively own 95.3% of NXST.
• Nexstar reported quarterly revenue of $1.99 billion, up 62.2% year over year and slightly above estimates, but earnings per share of $3.61 missed expectations of $5.98. The company declared a $1.86 quarterly dividend, implying a 4.0% annualized yield.
• NXST shares opened at $186.14, well below their 52-week high of $254.30. Analysts maintain a “Moderate Buy” consensus with a $259 average price target, although some firms recently lowered their targets or downgraded the stock.

Kiltearn Partners LLP acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 146,131 shares of the company's stock, valued at approximately $5,262,000. Nexstar Media Group makes up about 1.3% of Kiltearn Partners LLP's portfolio, making the stock its 21st largest position. Kiltearn Partners LLP owned approximately 0.47% of Nexstar Media Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Torren Management LLC bought a new stake in Nexstar Media Group during the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in Nexstar Media Group during the 3rd quarter valued at $28,000. WPG Advisers LLC boosted its stake in Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming acquired a new position in shares of Nexstar Media Group during the 2nd quarter valued at $54,000. Finally, Danske Bank A S bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth $59,000. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Down 0.6%

Shares of NASDAQ:NXST opened at $186.14 on Friday. The company has a debt-to-equity ratio of 5.09, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $5.73 billion, a PE ratio of 35.73 and a beta of 0.91. Nexstar Media Group, Inc. has a 52 week low of $154.47 and a 52 week high of $254.30. The firm has a 50 day simple moving average of $180.87 and a 200 day simple moving average of $199.11.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter in the previous year, the firm posted $3.06 earnings per share. The company's revenue for the quarter was up 62.2% on a year-over-year basis. As a group, research analysts expect that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Nexstar Media Group's dividend payout ratio (DPR) is 142.80%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NXST. Wells Fargo & Company decreased their target price on Nexstar Media Group from $253.00 to $249.00 and set an "overweight" rating for the company in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Barrington Research reiterated an "outperform" rating and issued a $290.00 target price on shares of Nexstar Media Group in a report on Tuesday, April 28th. Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $259.00.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook purchased 12,235 shares of the company's stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the transaction, the chief executive officer owned 899,044 shares of the company's stock, valued at approximately $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Zimmer sold 4,008 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider directly owned 1,792 shares of the company's stock, valued at approximately $335,928.32. This represents a 69.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,584 shares of company stock valued at $3,899,531 in the last ninety days. Company insiders own 7.00% of the company's stock.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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