Nexstar Media Group, Inc. $NXST Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 39.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,173 shares of the company's stock after buying an additional 55,247 shares during the period. Allianz Asset Management GmbH owned about 0.64% of Nexstar Media Group worth $33,755,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NXST. Blue Trust Inc. raised its position in shares of Nexstar Media Group by 69.0% in the first quarter. Blue Trust Inc. now owns 1,114 shares of the company's stock valued at $200,000 after buying an additional 455 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Nexstar Media Group by 163.4% in the first quarter. Retirement Systems of Alabama now owns 93,391 shares of the company's stock valued at $16,738,000 after purchasing an additional 57,934 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Nexstar Media Group by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock valued at $6,180,000 after purchasing an additional 624 shares during the period. Lecap Asset Management Ltd. purchased a new stake in Nexstar Media Group in the first quarter valued at approximately $3,026,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Nexstar Media Group by 10.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,230 shares of the company's stock valued at $4,275,000 after purchasing an additional 2,283 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Up 0.4%

Shares of NASDAQ:NXST opened at $190.14 on Friday. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $223.36. The company's fifty day moving average is $202.24 and its two-hundred day moving average is $180.94. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the company earned $3.54 EPS. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is 38.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NXST shares. Weiss Ratings restated a "buy (b)" rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Benchmark boosted their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Barrington Research restated an "outperform" rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Finally, Guggenheim upped their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

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.

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