Victory Capital Management Inc. Acquires 248,957 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 611.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,668 shares of the company's stock after acquiring an additional 248,957 shares during the quarter. Victory Capital Management Inc. owned 0.95% of Nexstar Media Group worth $51,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in Nexstar Media Group by 830.3% during the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after buying an additional 274 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after purchasing an additional 154 shares during the period. Versant Capital Management Inc increased its holdings in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock valued at $76,000 after purchasing an additional 404 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Nexstar Media Group by 186.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock valued at $81,000 after purchasing an additional 295 shares during the period. Finally, UMB Bank n.a. increased its holdings 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. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NXST traded up $0.78 during mid-day trading on Friday, hitting $184.85. The company's stock had a trading volume of 379,761 shares, compared to its average volume of 376,251. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $5.64 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The stock's 50-day moving average is $174.00 and its two-hundred day moving average is $164.32.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. Nexstar Media Group's revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 earnings per share. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.02%. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Insider Buying and Selling

In related news, insider Sean Compton sold 1,088 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 value of $190,976.64. Following the completion of the sale, the insider directly owned 12,096 shares in the company, valued at $2,123,210.88. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Ann Gliha sold 1,437 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 $249,448.83. Following the completion of the sale, the executive vice president owned 10,923 shares of the company's stock, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,474 shares of company stock valued at $3,666,988. 6.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NXST shares. Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Benchmark dropped their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.71.

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.