Penserra Capital Management LLC Increases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Penserra Capital Management LLC grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 81.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,725 shares of the company's stock after buying an additional 2,562 shares during the quarter. Penserra Capital Management LLC's holdings in Nexstar Media Group were worth $1,025,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NXST. Jones Financial Companies Lllp grew its stake in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group during the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after purchasing an additional 392 shares during the period. Victory Capital Management Inc. grew its stake in shares of Nexstar Media Group by 97.9% during the 4th quarter. Victory Capital Management Inc. now owns 40,711 shares of the company's stock worth $6,431,000 after purchasing an additional 20,140 shares during the period. Finally, Atria Investments Inc grew its stake in shares of Nexstar Media Group by 17.6% during the 4th quarter. Atria Investments Inc now owns 6,157 shares of the company's stock worth $973,000 after purchasing an additional 923 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on NXST. Benchmark lowered their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 510 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the sale, the insider directly owned 8,229 shares of the company's stock, valued at $1,359,842.25. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dana Zimmer sold 889 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $146,907.25. Following the sale, the insider directly owned 6,201 shares in the company, valued at $1,024,715.25. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,474 shares of company stock worth $3,666,988 over the last three months. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $4.91 during trading hours on Friday, reaching $180.02. The company's stock had a trading volume of 167,061 shares, compared to its average volume of 377,747. The stock has a market cap of $5.49 billion, a PE ratio of 9.12, a PEG ratio of 1.32 and a beta of 1.04. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86. The company's 50-day moving average is $171.66 and its two-hundred day moving average is $163.49. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74.

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 (EPS) for the quarter, topping 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 company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the company earned $5.16 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared 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 was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.13%. Nexstar Media Group's dividend 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.