Price T Rowe Associates Inc. MD Grows Stock Position in Nexstar Media Group, Inc. $NXST

Key Points

• Price T Rowe Associates Inc. increased its holdings in Nexstar Media Group by 1.7%, acquiring an additional 5,012 shares, bringing its total to 307,980 shares valued at $55.2 million.
• Analysts have shown confidence in Nexstar Media Group, with multiple firms raising their target prices to as high as $250.00 and assigning it a "Buy" or "Overweight" rating.
• Nexstar recently declared a quarterly dividend of $1.86 per share, resulting in an annualized dividend yield of 3.6%.

Price T Rowe Associates Inc. MD raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 307,980 shares of the company's stock after acquiring an additional 5,012 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.01% of Nexstar Media Group worth $55,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of NXST. Victory Capital Management Inc. grew its position in Nexstar Media Group by 611.5% in the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock valued at $51,914,000 after acquiring an additional 248,957 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Nexstar Media Group by 32.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock worth $144,110,000 after buying an additional 195,574 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Nexstar Media Group by 58.3% during the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after buying an additional 129,647 shares in the last quarter. Demars Financial Group LLC grew its position in shares of Nexstar Media Group by 13.6% during the 1st quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after buying an additional 105,516 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Nexstar Media Group during the 1st quarter worth $17,574,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Stock Up 1.7%

Shares of NASDAQ NXST traded up $3.40 during mid-day trading on Friday, reaching $204.53. 408,776 shares of the company were exchanged, compared to its average volume of 443,615. 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 $6.20 billion, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.52 and a beta of 1.05. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The firm has a 50-day moving average of $189.35 and a 200 day moving average of $172.94.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 28.40% and a net margin of 11.90%.The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.54 EPS. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's dividend payout ratio is 38.63%.

Insider Activity

In other Nexstar Media Group news, insider Brett Jenkins sold 610 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $100,802.50. Following the completion of the sale, the insider directly owned 25,616 shares in the company, valued at approximately $4,233,044. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Weitman sold 510 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $84,277.50. Following the completion of the sale, the insider owned 8,229 shares of the company's stock, valued at approximately $1,359,842.25. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,291 shares of company stock worth $1,543,502 over the last ninety days. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NXST has been the topic of a number of recent research reports. Barrington Research reissued an "outperform" rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Guggenheim increased their price target on Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Benchmark increased their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Wells Fargo & Company increased their price target on Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Zacks Research raised Nexstar Media Group to a "hold" rating in a research 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.