3,122 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management acquired a new stake in Nexstar Media Group, investing approximately $560,000 for 3,122 shares in the 1st quarter.
• Various hedge funds have significantly increased their holdings in Nexstar, with Demars Financial Group boosting its position by 16,009.5% to own over $122 million worth of shares.
• Nexstar Media Group's recent quarterly earnings report revealed a net margin of 12.21% and earnings per share of $3.37, outperforming analyst expectations.

Neo Ivy Capital Management purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,122 shares of the company's stock, valued at approximately $560,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth about $225,000. Corient Private Wealth LLC bought a new stake in Nexstar Media Group in the 4th quarter worth about $731,000. Sei Investments Co. grew its holdings in shares of Nexstar Media Group by 2.2% in the fourth quarter. Sei Investments Co. now owns 40,138 shares of the company's stock worth $6,341,000 after acquiring an additional 859 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Nexstar Media Group in the 4th quarter worth $1,264,000. Finally, LPL Financial LLC raised its position in shares of Nexstar Media Group by 9.8% during the 4th quarter. LPL Financial LLC now owns 20,506 shares of the company's stock valued at $3,166,000 after purchasing an additional 1,828 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NXST shares. Benchmark cut their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.71.

Insider Activity at Nexstar Media Group

In related news, COO Michael Biard sold 2,182 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $378,773.38. Following the sale, the chief operating officer owned 7,218 shares in the company, valued at $1,252,972.62. This represents a 23.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Ann Gliha sold 1,437 shares of the firm's stock in a transaction that occurred 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 directly owned 10,923 shares of the company's stock, valued at $1,896,123.57. This represents a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Trading Up 0.4%

NXST stock traded up $0.82 during mid-day trading on Wednesday, reaching $190.60. The company had a trading volume of 52,505 shares, compared to its average volume of 420,720. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $192.36. The company has a market capitalization of $5.82 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.04. The firm has a 50 day moving average of $175.67 and a 200 day moving average of $165.60. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.16 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 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.