Nexstar Media Group, Inc. (NASDAQ:NXST) Stake Lowered by LSV Asset Management

LSV Asset Management reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,370,074 shares of the company’s stock after selling 14,431 shares during the period. LSV Asset Management owned 4.16% of Nexstar Media Group worth $236,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NXST. SummerHaven Investment Management LLC boosted its holdings in Nexstar Media Group by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock worth $637,000 after purchasing an additional 70 shares in the last quarter. Signaturefd LLC boosted its holdings in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after purchasing an additional 71 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Nexstar Media Group by 7.8% during the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after acquiring an additional 81 shares during the period. Quadrant Capital Group LLC boosted its holdings in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Nexstar Media Group by 0.3% during the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after acquiring an additional 107 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST traded down $0.81 during trading hours on Friday, reaching $174.06. 237,356 shares of the company traded hands, compared to its average volume of 351,329. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The stock has a market cap of $5.73 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.50. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock’s fifty day moving average is $162.69 and its 200 day moving average is $165.09.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm earned $2.97 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.88%. Nexstar Media Group’s payout ratio is presently 57.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $190.00 to $221.00 in a report on Monday, May 13th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Thursday, June 20th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.67.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the transaction, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now directly owns 5,462 shares in the company, valued at $873,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gary Weitman sold 522 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the completion of the sale, the insider now owns 12,477 shares in the company, valued at $1,860,071.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,826 shares of company stock valued at $1,080,597. 5.90% of the stock is currently owned by 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.