Price T Rowe Associates Inc. MD raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 387,907 shares of the company’s stock after purchasing an additional 3,044 shares during the period. Price T Rowe Associates Inc. MD owned 1.03% of Nexstar Media Group worth $64,723,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Nexstar Media Group during the 3rd quarter worth $25,000. Brown Brothers Harriman & Co. bought a new stake in shares of Nexstar Media Group during the 1st quarter worth $26,000. Lazard Asset Management LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter worth $30,000. SeaCrest Wealth Management LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter worth $33,000. Finally, Ronald Blue Trust Inc. bought a new stake in shares of Nexstar Media Group during the 2nd quarter worth $36,000. 94.48% of the stock is owned by institutional investors.
Insider Buying and Selling at Nexstar Media Group
In other Nexstar Media Group news, insider Sean Compton sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $175.85, for a total value of $439,625.00. Following the transaction, the insider now owns 6,930 shares in the company, valued at $1,218,640.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nexstar Media Group news, insider Sean Compton sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $175.85, for a total value of $439,625.00. Following the transaction, the insider now owns 6,930 shares in the company, valued at $1,218,640.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas Carter sold 1,400 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $182.92, for a total transaction of $256,088.00. Following the completion of the transaction, the chief operating officer now owns 80,052 shares in the company, valued at approximately $14,643,111.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,900 shares of company stock worth $865,763. 5.00% of the stock is currently owned by company insiders.
Nexstar Media Group Stock Performance
Nexstar Media Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were given a $1.35 dividend. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.25%. Nexstar Media Group’s payout ratio is presently 22.36%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on NXST shares. Barrington Research reaffirmed an “outperform” rating and set a $235.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 8th. Benchmark reissued a “buy” rating and issued a $230.00 price target on shares of Nexstar Media Group in a research note on Monday, February 27th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $222.00.
About Nexstar Media Group
Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.
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