Parcion Private Wealth LLC Acquires 2,806 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Parcion Private Wealth LLC increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,067 shares of the company's stock after purchasing an additional 2,806 shares during the period. Parcion Private Wealth LLC owned approximately 0.11% of Nexstar Media Group worth $6,285,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC lifted its position in 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 acquiring an additional 274 shares during the last quarter. First Horizon Advisors Inc. lifted its position in 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 acquiring an additional 154 shares during the last quarter. Versant Capital Management Inc lifted its position in 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 acquiring an additional 404 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in 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 acquiring an additional 295 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in 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 acquiring an additional 218 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, 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 transaction, the insider owned 6,201 shares of the company's stock, valued at approximately $1,024,715.25. This trade represents a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Ann Gliha sold 757 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the executive vice president directly owned 12,826 shares of the company's stock, valued at approximately $2,119,496.50. This trade represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,474 shares of company stock valued at $3,666,988 over the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NXST shares. Benchmark cut their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their price target on shares of 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 research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Price Performance

Shares of NXST traded up $0.78 during mid-day trading on Friday, hitting $184.85. 379,761 shares of the company traded hands, compared to its average volume of 375,612. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The business has a 50-day moving average of $174.00 and a 200 day moving average of $164.28. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.35 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $5.16 earnings per share. Nexstar Media Group's revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.02%. Nexstar Media Group's payout ratio is 37.69%.

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.