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

Victory Capital Management Inc. grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 611.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 289,668 shares of the company's stock after acquiring an additional 248,957 shares during the quarter. Victory Capital Management Inc. owned about 0.95% of Nexstar Media Group worth $51,914,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC raised its holdings in shares of 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after buying an additional 154 shares in the last quarter. Versant Capital Management Inc raised its holdings 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 buying an additional 404 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Nexstar Media Group by 186.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after buying an additional 295 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after buying an additional 218 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Dana Zimmer sold 1,151 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $202,035.03. Following the completion of the transaction, the insider directly owned 3,141 shares in the company, valued at approximately $551,339.73. This represents a 26.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Biard sold 2,182 shares of the company's 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 completion of the transaction, the chief operating officer owned 7,218 shares of the company's stock, valued at $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 have sold 21,474 shares of company stock valued at $3,666,988 in the last ninety days. Corporate insiders own 6.70% of the company's stock.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded up $2.20 during mid-day trading on Tuesday, reaching $184.19. 246,462 shares of the company's stock were exchanged, compared to its average volume of 376,333. The business's fifty day simple moving average is $174.00 and its 200 day simple moving average is $164.35. The firm has a market capitalization of $5.62 billion, a PE ratio of 9.33, a P/E/G ratio of 1.34 and a beta of 1.04. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. 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 issued its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion for 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%. The business's revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 earnings per share. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent research reports. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their price objective 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

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.