Nexstar Media Group, Inc. $NXST Shares Sold by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. significantly reduced its holdings in Nexstar Media Group, selling 12,415 shares, which represents a 73.5% decrease in their position during the 2nd quarter.
• Several institutional investors have recently adjusted their stakes in Nexstar Media Group, with the majority of the stock, 95.30%, owned by these entities.
• Wall Street analysts have upgraded their price targets for Nexstar Media Group, with Guggenheim setting a new target of $250.00 and a consensus rating of "Moderate Buy."

Lecap Asset Management Ltd. decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 73.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,469 shares of the company's stock after selling 12,415 shares during the period. Lecap Asset Management Ltd.'s holdings in Nexstar Media Group were worth $773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Nexstar Media Group by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company's stock worth $240,481,000 after buying an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nexstar Media Group by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company's stock worth $203,964,000 after acquiring an additional 35,938 shares during the period. Demars Financial Group LLC raised its position in Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after acquiring an additional 105,516 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in Nexstar Media Group by 32.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock valued at $144,110,000 after acquiring an additional 195,574 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Nexstar Media Group by 7.9% during the 1st quarter. Northern Trust Corp now owns 499,896 shares of the company's stock valued at $89,591,000 after purchasing an additional 36,757 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXST. Guggenheim boosted their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Benchmark upped their price target on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Barrington Research reissued an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Wells Fargo & Company lifted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Zacks Research raised Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and an average price target of $225.00.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $198.63 on Friday. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The stock has a market cap of $6.02 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. The business has a fifty day simple moving average of $200.17 and a 200-day simple moving average of $179.54.

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 during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business earned $3.54 EPS. The business's revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is currently 38.63%.

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.

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