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

Lazard Asset Management LLC acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,654 shares of the company's stock, valued at approximately $2,314,000.

A number of other hedge funds have also made changes to their positions in NXST. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp increased its holdings in shares of Nexstar Media Group by 15.3% during the 4th 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 increased its holdings in shares of Nexstar Media Group by 99.5% during the 4th 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 increased its holdings in shares of Nexstar Media Group by 31.0% during the 4th 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 increased its holdings in shares of Nexstar Media Group by 49.7% during the 4th 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.

Nexstar Media Group Stock Performance

Shares of NXST stock traded down $5.01 during mid-day trading on Wednesday, reaching $170.73. The stock had a trading volume of 321,795 shares, compared to its average volume of 391,581. The firm's 50 day simple moving average is $162.85 and its 200 day simple moving average is $162.11. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The firm has a market cap of $5.21 billion, a PE ratio of 9.87, a P/E/G ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $5.16 EPS. On average, analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's dividend payout ratio is 37.69%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NXST shares. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and raised their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now owns 4,975 shares of the company's stock, valued at $843,312.25. The trade was a 28.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,558 shares of company stock valued at $7,504,098 in the last 90 days. 6.70% of the stock is owned by corporate insiders.

Nexstar Media Group 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.