XTX Topco Ltd Has $1.82 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• XTX Topco Ltd increased its stake in Nexstar Media Group by 85%, owning a total of 10,157 shares valued at approximately $1.82 million after acquiring an additional 4,667 shares.
• Institutional investors collectively hold 95.30% of Nexstar Media Group's stock, indicating strong institutional interest in the company.
• Nexstar Media Group declared a quarterly dividend of $1.86, which represents an annualized yield of 3.97%, with a payout ratio of 37.69%.

XTX Topco Ltd raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 85.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,157 shares of the company's stock after purchasing an additional 4,667 shares during the quarter. XTX Topco Ltd's holdings in Nexstar Media Group were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in shares of Nexstar Media Group during the 1st quarter valued at $323,000. Crossmark Global Holdings Inc. bought a new stake in shares of Nexstar Media Group during the 1st quarter valued at $219,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Nexstar Media Group by 1.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock valued at $6,180,000 after acquiring an additional 624 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Nexstar Media Group by 0.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 79,002 shares of the company's stock valued at $14,159,000 after acquiring an additional 294 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Nexstar Media Group during the 1st quarter valued at $218,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on NXST shares. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday. Benchmark dropped their target price on shares of 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. Finally, Wells Fargo & Company dropped their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Trading Down 1.3%

Shares of NXST traded down $2.51 during trading hours on Friday, reaching $184.60. The stock had a trading volume of 189,547 shares, compared to its average volume of 419,916. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $192.36. The firm has a 50-day moving average of $176.60 and a 200 day moving average of $166.17. The company has a market cap of $5.63 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.34 and a beta of 1.04.

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, topping analysts' consensus estimates of $3.26 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $5.16 EPS. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group's payout ratio is presently 37.69%.

Insider Activity at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 1,437 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total value of $249,448.83. Following the completion of the transaction, the executive vice president directly owned 10,923 shares of the company's stock, valued at approximately $1,896,123.57. This represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Biard sold 2,182 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $378,773.38. Following the completion of the transaction, the chief operating officer directly owned 7,218 shares of the company's stock, valued at approximately $1,252,972.62. The trade was a 23.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,474 shares of company stock valued at $3,666,988 in the last quarter. 6.70% of the stock is currently owned by company insiders.

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.