Foster & Motley Inc. Grows Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• Foster & Motley Inc. increased its stake in Nexstar Media Group (NASDAQ:NXST) by 8.5%, now owning approximately 0.13% of the company, valued at $7,359,000.
• Insider sales of 1,120 shares were reported recently, with key individuals reducing their stakes, which may indicate shifts in insider confidence.
• Analysts have set a consensus target price of $205.71 for Nexstar, with recent price objectives ranging from $200.00 to $215.00, reflecting various ratings from institutions.

Foster & Motley Inc. lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,063 shares of the company's stock after buying an additional 3,202 shares during the period. Foster & Motley Inc. owned about 0.13% of Nexstar Media Group worth $7,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Nexstar Media Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after buying an additional 4,704 shares during the last quarter. 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 worth $157,580,000 after purchasing an additional 105,516 shares during the period. Northern Trust Corp boosted its stake in shares of Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after purchasing an additional 84,367 shares during the period. AQR Capital Management LLC grew its holdings in shares of Nexstar Media Group by 15.5% in the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after purchasing an additional 56,935 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in Nexstar Media Group by 58.3% in the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after buying an additional 129,647 shares during the period. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NXST shares. Wells Fargo & Company lowered 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 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. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Insider Transactions at Nexstar Media Group

In related news, insider Sean Compton sold 1,088 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $190,976.64. Following the transaction, the insider owned 12,096 shares in the company, valued at approximately $2,123,210.88. This represents a 8.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Insiders own 6.70% of the company's stock.

Nexstar Media Group Stock Down 1.3%

NASDAQ:NXST traded down $2.51 during mid-day trading on Friday, hitting $184.60. 189,547 shares of the company's stock traded hands, compared to its average volume of 419,916. The company has a fifty day moving average of $176.60 and a 200 day moving average of $166.17. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $192.36. The company has a market capitalization of $5.63 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.34 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping 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 company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the business earned $5.16 EPS. Nexstar Media Group's revenue for the quarter was down 3.9% on a year-over-year basis. On average, analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

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 paid a $1.86 dividend. 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 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.