WBI Investments LLC Invests $268,000 in Nexstar Media Group, Inc. $NXST

Key Points

• WBI Investments LLC has invested approximately $268,000 in Nexstar Media Group, buying 1,496 shares during the first quarter, according to their latest SEC filing.
• Nexstar Media Group reported a $3.06 EPS for the last quarter, exceeding analysts' expectations of $2.95, despite a 3.2% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.86, resulting in an annualized dividend yield of 3.6% and a payout ratio of 38.63%.

WBI Investments LLC bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,496 shares of the company's stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in Nexstar Media Group during the 1st quarter valued at $654,000. Geneos Wealth Management Inc. increased its holdings in Nexstar Media Group by 86.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 509 shares of the company's stock valued at $91,000 after purchasing an additional 236 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Nexstar Media Group by 148.8% during the 1st quarter. Belpointe Asset Management LLC now owns 2,966 shares of the company's stock valued at $532,000 after purchasing an additional 1,774 shares in the last quarter. Bayforest Capital Ltd increased its stake in shares of Nexstar Media Group by 97.2% in the 1st quarter. Bayforest Capital Ltd now owns 2,777 shares of the company's stock valued at $498,000 after buying an additional 1,369 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company's stock valued at $23,802,000 after buying an additional 16,637 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 4.5%

NXST stock opened at $206.22 on Friday. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $6.25 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.47 and a beta of 1.04. The business has a 50-day moving average of $194.63 and a 200-day moving average of $176.04. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating the consensus estimate 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 business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.54 earnings per share. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. Nexstar Media Group's dividend payout ratio (DPR) is currently 38.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NXST shares. Barrington Research reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Guggenheim boosted their target price on Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wells Fargo & Company upped their price objective 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. Benchmark upped their price objective 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. Finally, Zacks Research raised Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $225.00.

Insiders Place Their Bets

In related news, insider Sean Compton sold 850 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $140,462.50. Following the completion of the transaction, the insider directly owned 15,272 shares of the company's stock, valued at approximately $2,523,698. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Zimmer sold 889 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $146,907.25. Following the completion of the transaction, the insider directly owned 6,201 shares of the company's stock, 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 5,209 shares of company stock valued at $860,787 in the last ninety days. 6.70% of the stock is currently owned by insiders.

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.

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