Wellington Management Group LLP Acquires Shares of 15,005 Nexstar Media Group, Inc. (NASDAQ:NXST)

Wellington Management Group LLP purchased a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,005 shares of the company's stock, valued at approximately $2,370,000.

A number of other large investors have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the third quarter valued at $33,000. Jones Financial Companies Lllp increased its holdings in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after buying an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after buying an additional 392 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In related news, insider Andrew Alford sold 3,768 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock worth $6,722,463 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Price Performance

NXST stock traded up $0.96 during trading on Thursday, reaching $148.15. The company's stock had a trading volume of 41,704 shares, compared to its average volume of 368,822. The company's fifty day moving average is $163.61 and its 200-day moving average is $163.92. Nexstar Media Group, Inc. has a 1 year low of $143.32 and a 1 year high of $191.86. The company has a market capitalization of $4.52 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $1.86 dividend. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group's payout ratio is currently 34.56%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Benchmark raised their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim upped their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of "Moderate Buy" and an average price target of $208.43.

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.