Western Wealth Management LLC raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,481 shares of the company's stock after buying an additional 161 shares during the period. Western Wealth Management LLC's holdings in Nexstar Media Group were worth $747,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Nexstar Media Group by 16.6% during the 4th quarter. Invesco Ltd. now owns 317,328 shares of the company's stock valued at $47,911,000 after purchasing an additional 45,185 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at $632,000. Rockefeller Capital Management L.P. boosted its position in Nexstar Media Group by 436.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,474 shares of the company's stock valued at $222,000 after buying an additional 1,199 shares during the period. Blair William & Co. IL purchased a new stake in Nexstar Media Group during the 4th quarter valued at $773,000. Finally, Bridgewater Associates LP boosted its position in Nexstar Media Group by 26.6% during the 4th quarter. Bridgewater Associates LP now owns 1,845 shares of the company's stock valued at $279,000 after buying an additional 388 shares during the period. Institutional investors own 92.01% of the company's stock.
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Insider Activity at Nexstar Media Group
In other Nexstar Media Group news, COO Thomas Carter sold 5,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $201.31, for a total transaction of $1,006,550.00. Following the transaction, the chief operating officer now owns 87,277 shares of the company's stock, valued at $17,569,732.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nexstar Media Group news, insider Elizabeth Ryder sold 2,704 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $200.00, for a total transaction of $540,800.00. Following the completion of the sale, the insider now directly owns 9,133 shares of the company's stock, valued at $1,826,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas Carter sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $201.31, for a total transaction of $1,006,550.00. Following the completion of the transaction, the chief operating officer now directly owns 87,277 shares of the company's stock, valued at $17,569,732.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,633 shares of company stock worth $3,257,923. 5.00% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on NXST shares. Barrington Research increased their price target on shares of Nexstar Media Group to $240.00 in a research report on Monday, August 15th. Rosenblatt Securities raised shares of Nexstar Media Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $181.00 to $246.00 in a research report on Tuesday, September 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $223.43.
Nexstar Media Group Trading Down 0.9 %
NASDAQ:NXST opened at $168.48 on Wednesday. Nexstar Media Group, Inc. has a 12 month low of $139.69 and a 12 month high of $204.62. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.67 and a beta of 1.47. The company has a 50-day moving average price of $190.74 and a 200-day moving average price of $178.27. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.48.
Nexstar Media Group (NASDAQ:NXST – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $5.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.46 by $0.10. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. Nexstar Media Group had a net margin of 18.79% and a return on equity of 32.36%. Nexstar Media Group's revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $4.51 EPS. Equities analysts predict that Nexstar Media Group, Inc. will post 26.28 EPS for the current year.
Nexstar Media Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were given a dividend of $0.90 per share. The ex-dividend date was Wednesday, August 10th. This represents a $3.60 annualized dividend and a yield of 2.14%. Nexstar Media Group's dividend payout ratio (DPR) is 16.64%.
About Nexstar Media Group
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Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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