Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 185.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 219,561 shares of the company’s stock after buying an additional 142,520 shares during the quarter. Invesco Ltd.’s holdings in Nexstar Media Group were worth $34,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its position in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after acquiring an additional 73 shares in the last quarter. Davis Capital Management increased its holdings in Nexstar Media Group by 2.0% in the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after purchasing an additional 122 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Nexstar Media Group by 5.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after purchasing an additional 137 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Nexstar Media Group by 1.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock worth $1,600,000 after purchasing an additional 140 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Down 3.4 %

Shares of NASDAQ NXST opened at $147.19 on Thursday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 8.51, a PEG ratio of 0.45 and a beta of 1.09. The stock’s 50 day moving average price is $163.61 and its two-hundred day moving average price is $163.92. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52-week low of $143.32 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data 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 firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is 34.56%.

Insider Activity at Nexstar Media Group

In related news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now directly owns 5,405 shares in the company, valued at $983,601.90. The trade was a 41.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock worth $6,722,463 in the last three months. 6.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NXST. Benchmark raised their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.43.

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.