Envestnet Asset Management Inc. increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 880.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 945,818 shares of the company’s stock after purchasing an additional 849,384 shares during the period. Envestnet Asset Management Inc. owned approximately 2.63% of Nexstar Media Group worth $18,158,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NXST. Brown Brothers Harriman & Co. purchased a new position in Nexstar Media Group during the first quarter worth about $26,000. Denali Advisors LLC grew its position in Nexstar Media Group by 107.0% during the first quarter. Denali Advisors LLC now owns 207 shares of the company’s stock worth $36,000 after buying an additional 107 shares during the period. Global Retirement Partners LLC grew its position in Nexstar Media Group by 176.1% during the first quarter. Global Retirement Partners LLC now owns 254 shares of the company’s stock worth $42,000 after buying an additional 162 shares during the period. Endurance Wealth Management Inc. acquired a new position in Nexstar Media Group during the first quarter worth about $43,000. Finally, Quadrant Capital Group LLC grew its position in Nexstar Media Group by 228.9% during the fourth quarter. Quadrant Capital Group LLC now owns 273 shares of the company’s stock worth $48,000 after buying an additional 190 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, insider Gary Weitman sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $158.82, for a total transaction of $67,498.50. Following the sale, the insider now owns 7,314 shares in the company, valued at $1,161,609.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 910 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $160.03, for a total transaction of $145,627.30. Following the transaction, the chief financial officer now owns 4,476 shares of the company’s stock, valued at $716,294.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary Weitman sold 425 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $158.82, for a total transaction of $67,498.50. Following the transaction, the insider now directly owns 7,314 shares in the company, valued at approximately $1,161,609.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,297 shares of company stock worth $3,174,901. 5.90% of the stock is owned by insiders.
Nexstar Media Group Stock Down 13.1 %
Nexstar Media Group (NASDAQ:NXST – Get Free Report) last released its quarterly earnings results on Tuesday, August 8th. The company reported $2.64 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.24). Nexstar Media Group had a net margin of 13.31% and a return on equity of 29.41%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the company earned $5.56 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts expect that Nexstar Media Group, Inc. will post 11.77 earnings per share for the current fiscal year.
Nexstar Media Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $5.40 dividend on an annualized basis and a yield of 3.82%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 29.65%.
Wall Street Analysts Forecast Growth
NXST has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Barrington Research restated an “outperform” rating and set a $235.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 8th. Guggenheim increased their price target on shares of Nexstar Media Group from $216.00 to $220.00 in a research report on Thursday, June 29th. Finally, StockNews.com began coverage on shares of Nexstar Media Group in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.00.
Read Our Latest Analysis on NXST
Nexstar Media Group Company Profile
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.
Featured Articles
- Five stocks we like better than Nexstar Media Group
- How to Invest in Esports
- MarketBeat Week in Review – 8/28 – 9/1
- Profitably Trade Stocks at 52-Week Highs
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- Insider Trading – What You Need to Know
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.
