Davis Capital Management Purchases 207 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Davis Capital Management boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,763 shares of the company’s stock after acquiring an additional 207 shares during the period. Davis Capital Management’s holdings in Nexstar Media Group were worth $980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management raised its stake in Nexstar Media Group by 5.5% during the 4th quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock worth $217,021,000 after acquiring an additional 72,462 shares during the period. Copeland Capital Management LLC raised its position in shares of Nexstar Media Group by 3.4% during the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock valued at $81,442,000 after buying an additional 16,928 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after buying an additional 445,859 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $51,812,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, May 10th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Rosenblatt Securities reduced their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Two equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Get Our Latest Report on Nexstar Media Group

Nexstar Media Group Trading Up 0.0 %

NASDAQ NXST traded up $0.03 on Wednesday, hitting $151.94. 400,514 shares of the stock were exchanged, compared to its average volume of 328,099. 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 has a fifty day moving average price of $162.18 and a two-hundred day moving average price of $163.83. The firm has a market capitalization of $4.99 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.55 and a beta of 1.48. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.28 by $0.88. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 earnings per share. Research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s payout ratio is 57.19%.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 432 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,329.76. Following the completion of the sale, the insider now directly owns 10,902 shares of the company’s stock, valued at $1,825,321.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Blake Russell sold 523 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 value of $77,968.84. Following the completion of the sale, the executive vice president now directly owns 27,111 shares in the company, valued at $4,041,707.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,329.76. Following the completion of the sale, the insider now owns 10,902 shares of the company’s stock, valued at $1,825,321.86. The disclosure for this sale can be found here. Insiders sold 13,001 shares of company stock valued at $2,123,127 over the last three months. 5.90% of the stock is owned by company insiders.

Nexstar Media Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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