11,200 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Bought by Natixis

Natixis bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,200 shares of the company’s stock, valued at approximately $1,930,000.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after buying an additional 177 shares during the last quarter. First United Bank & Trust acquired a new stake in Nexstar Media Group in the fourth quarter worth $33,000. SRS Capital Advisors Inc. grew its holdings in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after purchasing an additional 186 shares during the period. OLD Second National Bank of Aurora acquired a new stake in Nexstar Media Group in the fourth quarter worth $45,000. Finally, Quadrant Capital Group LLC grew its holdings in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Nexstar Media Group Stock Up 1.3 %

Shares of NASDAQ NXST traded up $2.22 during mid-day trading on Thursday, reaching $177.22. 237,088 shares of the company’s stock traded hands, compared to its average volume of 347,152. The stock has a market cap of $5.84 billion, a P/E ratio of 14.99, a PEG ratio of 0.64 and a beta of 1.50. The business has a 50-day simple moving average of $163.70 and a 200 day simple moving average of $166.39. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Buying and Selling

In related news, insider Gary Weitman sold 522 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $77,819.76. Following the transaction, the insider now directly owns 12,477 shares in the company, valued at $1,860,071.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of Nexstar Media Group stock in a transaction dated 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 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 accessible through this hyperlink. Also, insider Gary Weitman sold 522 shares of Nexstar Media Group stock in a transaction dated 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 directly owns 12,477 shares in the company, valued at approximately $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 worth $1,080,597. 5.90% of the stock is owned by insiders.

About Nexstar Media Group

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.