Mirae Asset Global Investments Co. Ltd. Has $4.28 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 10.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,230 shares of the company's stock after purchasing an additional 2,283 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Nexstar Media Group worth $4,275,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Lecap Asset Management Ltd. bought a new position in shares of Nexstar Media Group during the first quarter worth approximately $3,026,000. Cambridge Investment Research Advisors Inc. increased its stake in Nexstar Media Group by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock valued at $6,180,000 after acquiring an additional 624 shares during the last quarter. Retirement Systems of Alabama increased its stake in Nexstar Media Group by 163.4% in the first quarter. Retirement Systems of Alabama now owns 93,391 shares of the company's stock valued at $16,738,000 after acquiring an additional 57,934 shares during the last quarter. Blue Trust Inc. increased its stake in Nexstar Media Group by 69.0% in the first quarter. Blue Trust Inc. now owns 1,114 shares of the company's stock valued at $200,000 after acquiring an additional 455 shares during the last quarter. Finally, Demars Financial Group LLC increased its stake in Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after acquiring an additional 105,516 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXST. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Finally, Benchmark decreased their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded up $0.73 during mid-day trading on Friday, reaching $180.99. The company had a trading volume of 174,463 shares, compared to its average volume of 377,273. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The company has a market cap of $5.52 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.33 and a beta of 1.04. The business has a fifty day simple moving average of $168.48 and a 200 day simple moving average of $162.66.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $5.16 earnings per share. The company's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.86 per share. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.11%. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Dana Zimmer sold 1,151 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 transaction of $202,035.03. Following the transaction, the insider owned 3,141 shares in the company, valued at approximately $551,339.73. The trade was a 26.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares in the company, valued at approximately $1,896,123.57. This trade represents a 11.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,474 shares of company stock worth $3,666,988 in the last three months. 6.70% of the stock is currently owned by company insiders.

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.