Advisors Asset Management Inc. Has $3.58 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Advisors Asset Management Inc. boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,628 shares of the company’s stock after buying an additional 720 shares during the period. Advisors Asset Management Inc. owned approximately 0.07% of Nexstar Media Group worth $3,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company’s stock worth $174,103,000 after buying an additional 18,675 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Nexstar Media Group by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company’s stock worth $63,777,000 after buying an additional 19,116 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $35,560,000. Finally, Bruni J V & Co. Co. boosted its stake in shares of Nexstar Media Group by 0.8% in the 4th quarter. Bruni J V & Co. Co. now owns 194,568 shares of the company’s stock worth $30,736,000 after buying an additional 1,568 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NXST shares. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Benchmark upped their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Trading Down 1.1 %

NASDAQ:NXST opened at $177.38 on Friday. The company has a market cap of $5.41 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.45 and a beta of 1.47. The stock’s fifty day moving average price is $159.13 and its two-hundred day moving average price is $164.02. Nexstar Media Group, Inc. has a 1 year low of $146.04 and a 1 year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.19%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Insider Transactions at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Weitman sold 1,241 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares in the company, valued at approximately $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,250 shares of company stock valued at $20,450,616. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.