Nexstar Media Group, Inc. (NASDAQ:NXST) Position Increased by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Nexstar Media Group by 3.3%, now owning approximately 1,138,064 shares valued at $203.96 million.
• Analysts from Benchmark and Wells Fargo have raised their target prices for Nexstar Media Group, with Wells Fargo setting a new target at $250.00.
• Nexstar Media Group will pay a quarterly dividend of $1.86 per share on August 29th, offering an annualized yield of 4.0%.

Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,138,064 shares of the company's stock after purchasing an additional 35,938 shares during the period. Charles Schwab Investment Management Inc. owned about 3.73% of Nexstar Media Group worth $203,964,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC lifted its stake in Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after buying an additional 274 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after buying an additional 154 shares during the last quarter. Versant Capital Management Inc lifted its stake in Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after buying an additional 404 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock valued at $81,000 after buying an additional 295 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Nexstar Media Group by 68.6% in the first quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after buying an additional 218 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

NXST has been the topic of a number of recent research reports. Benchmark raised their target price on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company raised their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.83.

Insider Transactions at Nexstar Media Group

In related news, insider Dana Zimmer sold 1,151 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $202,035.03. Following the transaction, the insider directly owned 3,141 shares of the company's stock, valued at $551,339.73. The trade was a 26.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Biard sold 2,182 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $378,773.38. Following the transaction, the chief operating officer directly owned 7,218 shares in the company, valued at approximately $1,252,972.62. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,474 shares of company stock valued at $3,666,988 in the last three months. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $186.80 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $194.00. The firm's 50-day simple moving average is $178.35 and its 200 day simple moving average is $167.64. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The stock has a market cap of $5.70 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.33 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.44%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the previous year, the business earned $3.54 earnings per share. The company's revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. Nexstar Media Group's payout ratio is presently 38.63%.

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.

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