International Assets Investment Management LLC Raises Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

International Assets Investment Management LLC grew its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15,107.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,570 shares of the company's stock after buying an additional 121,764 shares during the quarter. International Assets Investment Management LLC owned 0.36% of Nexstar Media Group worth $19,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its stake in Nexstar Media Group by 4.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,619 shares of the company's stock worth $305,000 after acquiring an additional 62 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Nexstar Media Group by 5.0% in the second quarter. Kestra Advisory Services LLC now owns 1,397 shares of the company's stock valued at $233,000 after buying an additional 67 shares during the last quarter. Fifth Third Bancorp lifted its stake in Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company's stock worth $176,000 after purchasing an additional 81 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Nexstar Media Group by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company's stock worth $2,867,000 after buying an additional 91 shares during the last quarter. Finally, First National Bank of Omaha raised its stake in Nexstar Media Group by 0.9% during the second quarter. First National Bank of Omaha now owns 10,525 shares of the company's stock worth $1,753,000 after purchasing an additional 94 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Sean Compton sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the sale, the insider now directly owns 9,489 shares of the company's stock, valued at $1,543,006.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the sale, the chief executive officer now owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Compton sold 3,000 shares of Nexstar Media Group stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the sale, the insider now directly owns 9,489 shares of the company's stock, valued at $1,543,006.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,508 shares of company stock worth $7,487,950. Corporate insiders own 5.90% of the company's stock.

Nexstar Media Group Stock Up 0.1 %

Shares of NXST traded up $0.21 during midday trading on Thursday, hitting $163.16. The company had a trading volume of 230,628 shares, compared to its average volume of 358,462. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The company's 50 day moving average price is $166.62 and its 200 day moving average price is $157.33. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.62 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The firm's revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $8.04 EPS. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.14%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. Nexstar Media Group's dividend payout ratio (DPR) is presently 70.20%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NXST. TheStreet raised shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Rosenblatt Securities decreased their target price on Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a research report on Wednesday, March 13th. Finally, Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $193.83.

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.