Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,078 shares of the company's stock after buying an additional 4,011 shares during the period. Rhumbline Advisers owned 0.34% of Nexstar Media Group worth $18,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $25,000. Versant Capital Management Inc lifted its stake 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 in the last quarter. Jones Financial Companies Lllp lifted its stake in 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 acquiring an additional 73 shares in the last quarter. Parallel Advisors LLC lifted its stake in Nexstar Media Group by 30.5% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $117,000 after acquiring an additional 152 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in 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 acquiring an additional 392 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Stock Up 2.6%

NXST stock traded up $4.29 during mid-day trading on Friday, reaching $169.00. The company had a trading volume of 224,880 shares, compared to its average volume of 390,312. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05. The firm has a fifty day simple moving average of $160.90 and a 200 day simple moving average of $162.10. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 EPS. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.40%. Nexstar Media Group's payout ratio is currently 37.69%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NXST shares. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Guggenheim upped their price target on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Activity

In other news, insider Gary Weitman sold 424 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 $74,424.72. Following the transaction, the insider now owns 5,301 shares in the company, valued at approximately $930,484.53. This represents a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Ann Gliha sold 526 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $167.25, for a total value of $87,973.50. Following the completion of the transaction, the executive vice president now owns 11,709 shares in the company, valued at approximately $1,958,330.25. The trade was a 4.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,033 shares of company stock worth $3,491,901. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Company 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.