Nexstar Media Group, Inc. (NASDAQ:NXST) Holdings Increased by Phocas Financial Corp.

Phocas Financial Corp. grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 14.8% during the fourth quarter, HoldingsChannel reports. The firm owned 82,873 shares of the company’s stock after buying an additional 10,705 shares during the period. Nexstar Media Group accounts for approximately 2.1% of Phocas Financial Corp.’s holdings, making the stock its 2nd largest holding. Phocas Financial Corp.’s holdings in Nexstar Media Group were worth $14,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NXST. FMR LLC increased its stake in shares of Nexstar Media Group by 1.0% in the second quarter. FMR LLC now owns 2,740,135 shares of the company’s stock worth $446,313,000 after buying an additional 26,586 shares during the last quarter. BlackRock Inc. increased its stake in shares of Nexstar Media Group by 0.7% in the first quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock worth $323,233,000 after buying an additional 12,720 shares during the last quarter. Boston Partners increased its stake in shares of Nexstar Media Group by 4.8% in the third quarter. Boston Partners now owns 1,434,419 shares of the company’s stock worth $239,680,000 after buying an additional 66,106 shares during the last quarter. LSV Asset Management increased its stake in shares of Nexstar Media Group by 10.8% in the third quarter. LSV Asset Management now owns 1,196,460 shares of the company’s stock worth $199,629,000 after buying an additional 116,654 shares during the last quarter. Finally, Park West Asset Management LLC increased its stake in shares of Nexstar Media Group by 13.2% in the second quarter. Park West Asset Management LLC now owns 907,256 shares of the company’s stock worth $147,774,000 after buying an additional 105,697 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NXST. Barrington Research restated an “outperform” rating and issued a $235.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 8th. StockNews.com assumed coverage on shares of Nexstar Media Group in a research note on Thursday. They issued a “hold” rating for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Nexstar Media Group in a report on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $222.00.

Insider Activity

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $170.05, for a total transaction of $170,050.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $850,250. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $170.05, for a total transaction of $170,050.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $850,250. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lisbeth Mcnabb sold 500 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $160.06, for a total transaction of $80,030.00. Following the transaction, the director now directly owns 13,277 shares of the company’s stock, valued at approximately $2,125,116.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,400 shares of company stock valued at $945,793. 5.00% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

Nexstar Media Group stock traded down $4.88 during mid-day trading on Friday, reaching $159.20. The company’s stock had a trading volume of 644,066 shares, compared to its average volume of 374,019. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 1.15 and a beta of 1.51. The business has a 50 day moving average price of $188.51 and a 200-day moving average price of $181.80. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 2.47. Nexstar Media Group, Inc. has a twelve month low of $151.01 and a twelve month high of $217.76.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, February 9th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.90. Nexstar Media Group’s payout ratio is currently 22.36%.

About Nexstar Media Group

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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.