GAMMA Investing LLC Grows Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

GAMMA Investing LLC boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 13,242.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,311 shares of the company's stock after acquiring an additional 65,814 shares during the quarter. GAMMA Investing LLC owned 0.22% of Nexstar Media Group worth $11,884,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NXST. Demars Financial Group LLC lifted its position in 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 valued at $122,227,000 after acquiring an additional 768,934 shares in the last quarter. Norges Bank bought a new position in Nexstar Media Group in the 4th quarter valued at about $44,460,000. Proficio Capital Partners LLC bought a new position in Nexstar Media Group in the 4th quarter valued at about $35,560,000. Invesco Ltd. lifted its position in Nexstar Media Group by 185.0% in the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company's stock valued at $34,684,000 after acquiring an additional 142,520 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Nexstar Media Group by 22.3% in the 4th quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after acquiring an additional 84,367 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

NXST has been the topic of several recent research reports. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Benchmark dropped their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Stock Performance

Shares of NXST stock traded up $4.29 during trading hours on Friday, hitting $169.00. 224,880 shares of the company were exchanged, compared to its average volume of 390,312. The firm has a fifty day simple moving average of $160.90 and a 200 day simple moving average of $162.10. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.45 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $5.16 EPS. Nexstar Media Group's quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. Nexstar Media Group's dividend payout ratio is 37.69%.

Insider Activity at Nexstar Media Group

In related news, insider Brett Jenkins sold 528 shares of Nexstar Media Group 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 $92,679.84. Following the completion of the transaction, the insider now directly owns 22,977 shares in the company, valued at approximately $4,033,152.81. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Weitman sold 424 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $74,424.72. Following the completion of the transaction, the insider now owns 5,301 shares of the company's stock, valued at $930,484.53. This represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,033 shares of company stock worth $3,491,901. Corporate insiders own 6.70% of the company's stock.

About Nexstar Media Group

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.