Algert Global LLC Increases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Algert Global LLC raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 61.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,424 shares of the company's stock after purchasing an additional 2,059 shares during the period. Algert Global LLC's holdings in Nexstar Media Group were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NXST. Pacer Advisors Inc. boosted its holdings in Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the period. Demars Financial Group LLC boosted its position in shares of Nexstar Media Group by 16,009.5% during the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after acquiring an additional 768,934 shares in the last quarter. Norges Bank acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $44,460,000. Proficio Capital Partners LLC acquired a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $35,560,000. Finally, Invesco Ltd. boosted its position in shares of Nexstar Media Group by 185.0% during the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company's stock worth $34,684,000 after acquiring an additional 142,520 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Insider Activity

In other news, insider Andrew Alford sold 3,768 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. This represents a 41.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the sale, the director now owns 4,975 shares of the company's stock, valued at approximately $843,312.25. This trade represents a 28.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,105 shares of company stock valued at $6,722,463. Insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ:NXST traded up $0.17 on Wednesday, hitting $174.59. The company had a trading volume of 463,279 shares, compared to its average volume of 391,192. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.45 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a 50 day moving average of $162.53 and a two-hundred day moving average of $162.14. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86.

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

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's payout ratio is currently 37.69%.

Analyst Ratings Changes

NXST has been the topic of several analyst reports. Guggenheim increased their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Benchmark reduced their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Company 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.