Nexstar Media Group, Inc. $NXST Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Nexstar Media Group by 112.8% in the first quarter, owning a total of 7,345 shares worth approximately $1.3 million.
• Nexstar Media Group reported $3.06 EPS for the last quarter, surpassing analyst expectations, although revenue declined 3.2% year-over-year.
• The company announced a quarterly dividend of $1.86 per share, providing a yield of 3.6% with a payout ratio of 38.63%.

Deutsche Bank AG increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 112.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,345 shares of the company's stock after purchasing an additional 3,894 shares during the quarter. Deutsche Bank AG's holdings in Nexstar Media Group were worth $1,316,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Glassy Mountain Advisors Inc. boosted its holdings in Nexstar Media Group by 0.4% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock worth $3,674,000 after acquiring an additional 73 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Nexstar Media Group by 5.0% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company's stock worth $346,000 after acquiring an additional 92 shares during the period. State of Michigan Retirement System boosted its holdings in Nexstar Media Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company's stock worth $1,255,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Nexstar Media Group by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company's stock worth $1,470,000 after acquiring an additional 100 shares during the period. Finally, Mariner LLC boosted its holdings in Nexstar Media Group by 5.3% in the 4th quarter. Mariner LLC now owns 2,300 shares of the company's stock worth $363,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $207.06 on Friday. The business's fifty day moving average price is $185.70 and its 200 day moving average price is $171.09. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The stock has a market capitalization of $6.28 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69.

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

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 3.6%. The ex-dividend date is Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 38.63%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Benchmark upped their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Guggenheim increased their target price on Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday. Zacks Research upgraded Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Wells Fargo & Company increased their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Barrington Research reiterated an "outperform" rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Insider Buying and Selling

In other Nexstar Media Group news, EVP Blake Russell sold 507 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $83,781.75. Following the sale, the executive vice president directly owned 24,826 shares in the company, valued at approximately $4,102,496.50. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dana Zimmer sold 889 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the completion of the sale, the insider owned 6,201 shares in the company, valued at $1,024,715.25. The trade was a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,021 shares of company stock valued at $2,885,352 in the last three months. 6.70% of the stock is owned by corporate insiders.

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.

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