First Heartland Consultants Inc. Invests $785,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

First Heartland Consultants Inc. bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,009 shares of the company's stock, valued at approximately $785,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Channing Capital Management LLC boosted its position in Nexstar Media Group by 738.8% in the 3rd quarter. Channing Capital Management LLC now owns 506,212 shares of the company's stock valued at $72,576,000 after buying an additional 445,859 shares during the period. Boston Financial Mangement LLC boosted its holdings in Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company's stock valued at $34,218,000 after purchasing an additional 145,617 shares during the period. International Assets Investment Management LLC grew its stake in Nexstar Media Group by 15,107.2% during the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company's stock worth $19,213,000 after purchasing an additional 121,764 shares in the last quarter. New York State Common Retirement Fund grew its stake in Nexstar Media Group by 71.0% during the 3rd quarter. New York State Common Retirement Fund now owns 249,679 shares of the company's stock worth $35,796,000 after purchasing an additional 103,636 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Nexstar Media Group by 5.5% during the 4th quarter. LSV Asset Management now owns 1,384,505 shares of the company's stock worth $217,021,000 after purchasing an additional 72,462 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In related news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction on Tuesday, March 5th. The stock was 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 directly owns 636,788 shares of the company's stock, valued at $101,032,784.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Perry A. Sook sold 31,758 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value 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 $101,032,784.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Strober sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total value of $167,490.00. Following the transaction, the executive vice president now directly owns 1,076 shares of the company's stock, valued at $180,219.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock traded down $0.98 during trading on Friday, reaching $169.56. The company's stock had a trading volume of 250,901 shares, compared to its average volume of 299,506. The company has a 50-day moving average price of $166.43 and a two-hundred day moving average price of $162.37. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The firm has a market cap of $5.57 billion, a PE ratio of 14.35, a P/E/G ratio of 0.61 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating analysts' consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $2.97 earnings per share. Nexstar Media Group's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Nexstar Media Group, Inc. will post 27.82 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.99%. Nexstar Media Group's payout ratio is 57.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NXST. Benchmark reiterated a "buy" rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, May 10th. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Wells Fargo & Company raised Nexstar Media Group from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Rosenblatt Securities decreased their price target on Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. Finally, Loop Capital upgraded Nexstar Media Group to a "strong-buy" rating in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus price target of $206.00.

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.