Voloridge Investment Management LLC Buys New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Voloridge Investment Management LLC bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 44,788 shares of the company's stock, valued at approximately $7,075,000. Voloridge Investment Management LLC owned approximately 0.14% of Nexstar Media Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NXST. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group in the fourth quarter worth about $25,000. Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after buying an additional 73 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after buying an additional 392 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares in the last quarter. Finally, Covestor Ltd grew its stake in Nexstar Media Group by 49.7% in the 4th quarter. Covestor Ltd now owns 949 shares of the company's stock valued at $150,000 after acquiring an additional 315 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Trading Down 0.5%

Shares of NXST traded down $0.79 during trading hours on Friday, reaching $169.77. 54,963 shares of the company traded hands, compared to its average volume of 389,895. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company's fifty day moving average price is $162.32 and its two-hundred day moving average price is $162.01. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its 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. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.38%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 32,096 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company's stock, valued at $137,563,262.73. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares of the company's stock, valued at approximately $983,601.90. The trade was a 41.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,288 shares of company stock worth $8,845,948. 6.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NXST shares. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on 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. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and raised their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Benchmark decreased their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $205.71.

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.