Nexstar Media Group, Inc. $NXST Stake Increased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Nexstar Media Group by 8.6%, bringing its total holdings to 26,304 shares worth approximately $4.55 million.
• Nexstar Media Group reported a Q2 EPS of $3.06, surpassing analyst expectations of $2.95, but showed a 3.2% year-over-year revenue decline.
• The company recently declared a quarterly dividend of $1.86, which equates to an annual yield of 3.7%, indicating solid returns for investors.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,304 shares of the company's stock after acquiring an additional 2,074 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Nexstar Media Group worth $4,549,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Lynx Investment Advisory lifted its position in shares of Nexstar Media Group by 3.8% during the second quarter. Lynx Investment Advisory now owns 1,800 shares of the company's stock worth $311,000 after purchasing an additional 66 shares during the last quarter. Impact Capital Partners LLC raised its stake in Nexstar Media Group by 2.0% during the second quarter. Impact Capital Partners LLC now owns 2,857 shares of the company's stock valued at $494,000 after buying an additional 55 shares in the last quarter. Kendall Capital Management lifted its holdings in Nexstar Media Group by 56.4% during the 2nd quarter. Kendall Capital Management now owns 19,129 shares of the company's stock worth $3,308,000 after buying an additional 6,895 shares during the last quarter. Caitlin John LLC acquired a new position in shares of Nexstar Media Group in the 2nd quarter worth approximately $263,000. Finally, GAMMA Investing LLC increased its holdings in shares of Nexstar Media Group by 38.9% in the 2nd quarter. GAMMA Investing LLC now owns 514 shares of the company's stock valued at $89,000 after acquiring an additional 144 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 0.5%

Shares of NASDAQ:NXST opened at $201.88 on Tuesday. 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 company's 50-day moving average price is $200.60 and its 200 day moving average price is $179.92. The company has a market cap of $6.12 billion, a PE ratio of 10.48, a P/E/G ratio of 1.49 and a beta of 1.01. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36.

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

Nexstar Media Group Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark raised their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company boosted their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Nexstar Media Group in a research note on Saturday, September 27th. Finally, Barrington Research reissued an "outperform" rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $225.00.

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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