Envestnet Asset Management Inc. boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,434 shares of the company’s stock after acquiring an additional 13,312 shares during the period. Envestnet Asset Management Inc. owned 0.26% of Nexstar Media Group worth $16,879,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXST. BlackRock Inc. lifted its holdings in shares of Nexstar Media Group by 0.7% during the 1st quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock valued at $323,233,000 after purchasing an additional 12,720 shares in the last quarter. Boston Partners lifted its holdings in shares of Nexstar Media Group by 4.8% during the 3rd quarter. Boston Partners now owns 1,434,419 shares of the company’s stock valued at $239,680,000 after purchasing an additional 66,106 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Nexstar Media Group by 10.8% during the 3rd quarter. LSV Asset Management now owns 1,196,460 shares of the company’s stock valued at $199,629,000 after purchasing an additional 116,654 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Nexstar Media Group by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock valued at $135,026,000 after purchasing an additional 60,217 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Nexstar Media Group by 3.9% during the 1st quarter. State Street Corp now owns 649,897 shares of the company’s stock valued at $122,493,000 after purchasing an additional 24,184 shares in the last quarter. Institutional investors own 94.48% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on NXST shares. Benchmark reiterated a “buy” rating and set a $230.00 price objective on shares of Nexstar Media Group in a report on Monday, February 27th. StockNews.com assumed coverage on Nexstar Media Group in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Barrington Research reissued an “outperform” rating and issued a $235.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $222.00.
Nexstar Media Group Stock Performance
Nexstar Media Group (NASDAQ:NXST – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported $8.04 EPS for the quarter, topping the consensus estimate of $7.57 by $0.47. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.51 billion. Nexstar Media Group had a return on equity of 37.40% and a net margin of 18.64%. As a group, equities research analysts predict that Nexstar Media Group, Inc. will post 11.17 EPS for the current year.
Nexstar Media Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, May 12th will be paid a $1.35 dividend. The ex-dividend date is Thursday, May 11th. This represents a $5.40 annualized dividend and a yield of 3.25%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 22.36%.
Insider Activity at Nexstar Media Group
In other news, COO Thomas Carter sold 1,400 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $182.92, for a total transaction of $256,088.00. Following the completion of the sale, the chief operating officer now directly owns 80,052 shares in the company, valued at approximately $14,643,111.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Sean Compton sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $175.85, for a total transaction of $439,625.00. Following the completion of the sale, the insider now directly owns 6,930 shares in the company, valued at approximately $1,218,640.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Carter sold 1,400 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $182.92, for a total value of $256,088.00. Following the sale, the chief operating officer now owns 80,052 shares of the company’s stock, valued at $14,643,111.84. The disclosure for this sale can be found here. Insiders sold 8,084 shares of company stock worth $1,373,441 in the last ninety days. 5.00% of the stock is owned by company insiders.
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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