15,005 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,005 shares of the company's stock, valued at approximately $2,370,000.

Several other institutional investors also recently modified their holdings of NXST. Demars Financial Group LLC boosted its position in shares of Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock valued at $122,227,000 after buying an additional 768,934 shares during the last quarter. Norges Bank bought a new position in Nexstar Media Group in the fourth quarter valued at about $44,460,000. Proficio Capital Partners LLC bought a new position in Nexstar Media Group in the fourth quarter valued at about $35,560,000. Invesco Ltd. lifted its holdings in Nexstar Media Group by 185.0% in the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company's stock valued at $34,684,000 after acquiring an additional 142,520 shares during the period. Finally, Northern Trust Corp lifted its holdings in Nexstar Media Group by 22.3% in the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after acquiring an additional 84,367 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $4.29 during trading on Friday, hitting $169.00. The company had a trading volume of 224,880 shares, compared to its average volume of 389,535. The stock has a 50 day simple moving average of $160.90 and a 200 day simple moving average of $162.14. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The firm has a market capitalization of $5.16 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.45 and a beta of 1.05.

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

Nexstar Media Group Dividend Announcement

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

Insider Transactions at Nexstar Media Group

In related news, insider Gary Weitman sold 424 shares of the business's stock in a transaction that occurred on 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 directly owns 5,301 shares of the company's stock, valued at approximately $930,484.53. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,033 shares of company stock valued at $3,491,901 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Benchmark lowered their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Guggenheim increased their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

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.