NBC Securities Inc. Increases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

NBC Securities Inc. boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 164,300.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,644 shares of the company's stock after buying an additional 1,643 shares during the period. NBC Securities Inc.'s holdings in Nexstar Media Group were worth $294,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Nexstar Media Group by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after purchasing an additional 4,704 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after purchasing an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of Nexstar Media Group by 16,009.5% in the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after purchasing an additional 768,934 shares during the period. Northern Trust Corp lifted its position in shares of Nexstar Media Group by 22.3% in the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after purchasing an additional 84,367 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 15.5% in the 4th quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock valued at $66,949,000 after purchasing an additional 56,935 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Up 2.1%

NXST traded up $3.56 during midday trading on Tuesday, hitting $171.90. The company had a trading volume of 170,416 shares, compared to its average volume of 388,659. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.45 and a beta of 1.05. The stock's 50 day moving average price is $160.73 and its 200 day moving average price is $162.11.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued 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. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $5.16 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts anticipate 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. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.33%. Nexstar Media Group's payout ratio is currently 37.69%.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Andrew Alford sold 3,768 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 of the company's stock, valued at $983,601.90. This represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Weitman sold 325 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $54,356.25. Following the transaction, the insider now directly owns 7,425 shares in the company, valued at approximately $1,241,831.25. The trade was a 4.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,033 shares of company stock valued at $3,491,901. Company insiders own 6.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Guggenheim lifted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Benchmark lowered their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Wall Street Zen cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Company 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.