Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. increased its stake in Nexstar Media Group by 52.6% during the first quarter, holding 74,722 shares worth approximately $13.39 million.
• Institutional investors own 95.3% of Nexstar Media Group's stock, with several hedge funds significantly increasing their holdings in the past quarter.
• Nexstar recently declared a quarterly dividend of $1.86 per share, which translates to an annualized dividend yield of 4.0%.

Phocas Financial Corp. raised its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 52.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,722 shares of the company's stock after purchasing an additional 25,756 shares during the period. Nexstar Media Group accounts for approximately 2.1% of Phocas Financial Corp.'s holdings, making the stock its 3rd biggest position. Phocas Financial Corp. owned approximately 0.24% of Nexstar Media Group worth $13,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its holdings in Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after acquiring an additional 274 shares during the last quarter. First Horizon Advisors Inc. grew its position in Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after buying an additional 154 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Nexstar Media Group by 2,126.3% during the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after acquiring an additional 404 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Nexstar Media Group by 186.7% during the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after purchasing an additional 295 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after purchasing an additional 218 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NXST shares. Benchmark reduced their price target on shares of 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. Wells Fargo & Company decreased 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 target on shares of Nexstar Media Group in a research report on Wednesday, July 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Nexstar Media Group Stock Performance

NASDAQ NXST traded down $2.34 during trading on Thursday, hitting $184.65. The company's stock had a trading volume of 132,255 shares, compared to its average volume of 414,858. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $194.00. The firm has a market cap of $5.63 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The firm has a 50 day moving average price of $177.74 and a 200 day moving average price of $167.11. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. During the same quarter last year, the company earned $3.54 earnings per share. Nexstar Media Group's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.86 per share. The ex-dividend date is Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group's dividend payout ratio (DPR) is currently 37.69%.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 1,437 shares of the firm's 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 completion of the sale, the executive vice president directly owned 10,923 shares of the company's stock, valued at $1,896,123.57. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Compton sold 1,088 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the sale, the insider owned 12,096 shares in the company, valued at $2,123,210.88. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

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.