Lazard Asset Management LLC Makes New $2.31 Million Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Lazard Asset Management LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,654 shares of the company's stock, valued at approximately $2,314,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group during the fourth quarter worth $25,000. Jones Financial Companies Lllp boosted its stake in 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 acquiring an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Nexstar Media Group by 99.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock valued at $124,000 after acquiring an additional 392 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Nexstar Media Group by 31.0% in the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after acquiring an additional 209 shares during the last quarter. Finally, Covestor Ltd boosted its stake in Nexstar Media Group by 49.7% in the fourth quarter. Covestor Ltd now owns 949 shares of the company's stock valued at $150,000 after acquiring an additional 315 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent analyst reports. Wall Street Zen cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Stock Up 0.0%

NASDAQ NXST traded up $0.05 during trading on Friday, hitting $171.51. The stock had a trading volume of 311,671 shares, compared to its average volume of 391,265. The company has a market capitalization of $5.23 billion, a PE ratio of 9.92, a P/E/G ratio of 0.45 and a beta of 1.06. The company's 50-day moving average price is $162.75 and its two-hundred day moving average price is $162.14. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. 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 released its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.16 EPS. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now owns 4,975 shares in the company, valued at approximately $843,312.25. This represents a 28.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Compton sold 1,088 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the sale, the insider now owns 12,096 shares in the company, valued at $2,123,210.88. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,558 shares of company stock worth $7,504,098. Corporate insiders own 6.70% of the company's stock.

About Nexstar Media Group

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.