Parcion Private Wealth LLC Grows Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Parcion Private Wealth LLC boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & 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 0.11% of Nexstar Media Group worth $6,285,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new stake in shares of Nexstar Media Group in the first quarter valued at $323,000. Crossmark Global Holdings Inc. bought a new stake in Nexstar Media Group during the first quarter worth about $219,000. Cambridge Investment Research Advisors Inc. lifted its stake in Nexstar Media Group by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after purchasing an additional 624 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Nexstar Media Group in the 4th quarter valued at about $1,264,000. Finally, Janus Henderson Group PLC increased its position in shares of Nexstar Media Group by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 14,074 shares of the company's stock valued at $2,223,000 after buying an additional 494 shares during the period. Institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In related news, insider Dana Zimmer sold 1,151 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $202,035.03. Following the transaction, the insider directly owned 3,141 shares of the company's stock, valued at $551,339.73. This represents a 26.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Compton sold 1,088 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the sale, the insider directly owned 12,096 shares in the company, valued at $2,123,210.88. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,474 shares of company stock worth $3,666,988. Corporate insiders own 6.70% of the company's stock.

Analyst Ratings Changes

NXST has been the subject of a number of research analyst reports. Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on 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. Finally, Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $0.72 during trading on Friday, hitting $183.36. 54,710 shares of the stock traded hands, compared to its average volume of 374,003. The company has a market capitalization of $5.59 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The firm has a 50-day simple moving average of $173.60 and a 200-day simple moving average of $164.09. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $5.16 EPS. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.06%. Nexstar Media Group's payout ratio is currently 37.69%.

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.