United Services Automobile Association Buys New Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• United Services Automobile Association has invested approximately $338,000 in Nexstar Media Group by acquiring 1,916 shares during the first quarter.
• Insider transactions show that executives sold shares, with a total of 5,209 shares valued at $860,787 sold in the last three months, indicating a decrease in their positions.
• Analysts have raised their price targets for Nexstar Media Group, with new targets set at up to $250.00, reflecting a generally positive outlook on the stock.

United Services Automobile Association bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,916 shares of the company's stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LLP bought a new position in shares of Nexstar Media Group in the first quarter worth approximately $3,504,000. Kestra Investment Management LLC bought a new position in Nexstar Media Group during the first quarter valued at $574,000. Jones Financial Companies Lllp lifted its position in Nexstar Media Group by 71,715.8% during the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company's stock valued at $70,790,000 after purchasing an additional 394,437 shares during the last quarter. Petrus Trust Company LTA raised its stake in shares of Nexstar Media Group by 12.0% in the first quarter. Petrus Trust Company LTA now owns 3,076 shares of the company's stock valued at $551,000 after acquiring an additional 329 shares during the period. Finally, New Vernon Capital Holdings II LLC purchased a new stake in shares of Nexstar Media Group in the first quarter valued at $60,064,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Guggenheim raised their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Barrington Research reaffirmed an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Benchmark raised their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $225.00.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $1.88 on Tuesday, hitting $202.72. The company had a trading volume of 125,026 shares, compared to its average volume of 413,908. The company has a market capitalization of $6.15 billion, a PE ratio of 10.53, a PEG ratio of 1.54 and a beta of 1.04. The company's fifty day moving average price is $195.71 and its 200-day moving average price is $176.99. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.54 earnings per share. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio is currently 38.63%.

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.