Wedge Capital Management L L P NC Has $5.15 Million Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• Wedge Capital Management significantly increased its position in Nexstar Media Group by 110.7%, acquiring a total value of $5.15 million during the second quarter.
• Recent analyst reports are generally positive, with several firms raising their price targets for Nexstar Media Group, resulting in a consensus rating of "Moderate Buy" and an average target of $225.00.
• Nexstar Media Group recently announced a quarterly dividend of $1.86 per share, representing an annualized yield of 3.6% and a dividend payout ratio of 38.63%.

Wedge Capital Management L L P NC increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 110.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,751 shares of the company's stock after acquiring an additional 15,628 shares during the period. Wedge Capital Management L L P NC owned about 0.10% of Nexstar Media Group worth $5,145,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Glassy Mountain Advisors Inc. lifted its holdings in Nexstar Media Group by 0.4% during the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock worth $3,674,000 after buying an additional 73 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in Nexstar Media Group by 5.0% during the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company's stock worth $346,000 after buying an additional 92 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Nexstar Media Group by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company's stock worth $1,255,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Nexstar Media Group by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company's stock worth $1,470,000 after buying an additional 100 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Nexstar Media Group by 18.8% during the 2nd quarter. UMB Bank n.a. now owns 637 shares of the company's stock worth $110,000 after buying an additional 101 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Up 0.6%

Shares of NASDAQ NXST traded up $1.15 during mid-day trading on Tuesday, hitting $203.40. The company had a trading volume of 84,159 shares, compared to its average volume of 414,414. The company has a market capitalization of $6.17 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50-day simple moving average of $197.92 and a two-hundred day simple moving average of $178.13. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.11. The company 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%.Nexstar Media Group's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 EPS. On average, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NXST. Barrington Research restated an "outperform" rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Benchmark raised 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 raised 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. Zacks Research upgraded Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Finally, Guggenheim raised 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. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.