Miracle Mile Advisors LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,599 shares of the company's stock, valued at approximately $260,000.
A number of other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Nexstar Media Group by 0.7% during the first quarter. BlackRock Inc. now owns 1,714,944 shares of the company's stock worth $323,233,000 after acquiring an additional 12,720 shares during the period. Boston Partners boosted its holdings in shares of Nexstar Media Group by 4.2% during the first quarter. Boston Partners now owns 1,281,140 shares of the company's stock worth $240,728,000 after acquiring an additional 51,990 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Nexstar Media Group by 9.2% in the first quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company's stock valued at $135,026,000 after buying an additional 60,217 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nexstar Media Group by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 667,764 shares of the company's stock valued at $100,860,000 after buying an additional 3,997 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 662,488 shares of the company's stock valued at $124,866,000 after buying an additional 161,170 shares during the period. Institutional investors own 92.01% of the company's stock.
Get Nexstar Media Group alerts:Wall Street Analysts Forecast Growth
NXST has been the subject of several recent research reports. Rosenblatt Securities upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $181.00 to $246.00 in a research note on Tuesday, September 6th. Barrington Research boosted their price target on Nexstar Media Group to $240.00 in a research note on Monday, August 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $223.43.
Nexstar Media Group Stock Down 2.0 %
NASDAQ NXST opened at $175.88 on Monday. The business has a fifty day moving average price of $190.90 and a two-hundred day moving average price of $178.40. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.95 and a quick ratio of 1.95. Nexstar Media Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $204.62. The stock has a market capitalization of $7.11 billion, a PE ratio of 8.13, a PEG ratio of 0.67 and a beta of 1.47.Nexstar Media Group (NASDAQ:NXST – Get Rating) last released its earnings results on Thursday, August 4th. The company reported $5.56 earnings per share for the quarter, topping the consensus estimate of $5.46 by $0.10. Nexstar Media Group had a return on equity of 32.36% and a net margin of 18.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the company earned $4.51 earnings per share. The company's quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Nexstar Media Group, Inc. will post 26.28 earnings per share for the current fiscal year.
Nexstar Media Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, August 10th. Nexstar Media Group's payout ratio is presently 16.64%.
Insiders Place Their Bets
In other news, insider Gary Weitman sold 192 shares of the company's stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $191.07, for a total transaction of $36,685.44. Following the completion of the transaction, the insider now directly owns 3,216 shares in the company, valued at $614,481.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gary Weitman sold 192 shares of the company's stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $191.07, for a total transaction of $36,685.44. Following the completion of the transaction, the insider now directly owns 3,216 shares in the company, valued at $614,481.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Carter sold 5,000 shares of the company's stock in a transaction on Wednesday, August 17th. The stock was 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 disclosure for this sale can be found here. Insiders sold 11,098 shares of company stock worth $2,122,612 over the last three months. Insiders own 5.00% of the company's stock.
About Nexstar Media Group
(Get Rating)
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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