Lecap Asset Management Ltd. Buys New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Lecap Asset Management Ltd. purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,884 shares of the company's stock, valued at approximately $3,026,000. Nexstar Media Group comprises 0.7% of Lecap Asset Management Ltd.'s holdings, making the stock its 23rd biggest holding. Lecap Asset Management Ltd. owned about 0.06% of Nexstar Media Group as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Demars Financial Group LLC grew its position in shares of Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after acquiring an additional 768,934 shares during the last quarter. Norges Bank acquired a new stake in Nexstar Media Group during the 4th quarter worth $44,460,000. Proficio Capital Partners LLC purchased a new position in Nexstar Media Group during the 4th quarter worth $35,560,000. Invesco Ltd. increased its stake in Nexstar Media Group by 185.0% in the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company's stock valued at $34,684,000 after purchasing an additional 142,520 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Nexstar Media Group in the first quarter valued at $17,574,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

NXST has been the subject of several recent research reports. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. 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 report on Tuesday, May 6th. Finally, Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Transactions at Nexstar Media Group

In related news, insider Gary Weitman sold 424 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $74,424.72. Following the sale, the insider now directly owns 5,301 shares in the company, valued at $930,484.53. The trade was a 7.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 838 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $147,094.14. Following the transaction, the insider now owns 7,067 shares of the company's stock, valued at $1,240,470.51. This trade represents a 10.60% 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 valued at $3,666,988 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $176.21 on Wednesday. The company has a market cap of $5.38 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The business has a fifty day moving average of $164.13 and a two-hundred day moving average of $162.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74.

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, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $5.16 earnings per share. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is 37.69%.

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.

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