Price T Rowe Associates Inc. MD Purchases 5,012 Shares of Nexstar Media Group, Inc. $NXST

Price T Rowe Associates Inc. MD lifted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,980 shares of the company’s stock after purchasing an additional 5,012 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Nexstar Media Group were worth $55,197,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NXST. Whipplewood Advisors LLC increased its stake in shares of Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after purchasing an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Nexstar Media Group by 2,293.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after purchasing an additional 367 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock worth $76,000 after purchasing an additional 404 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Nexstar Media Group by 186.7% in the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock worth $81,000 after purchasing an additional 295 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXST has been the subject of several analyst reports. Guggenheim upped their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Zacks Research upgraded Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Wells Fargo & Company increased their price target on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Benchmark increased their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Nexstar Media Group Trading Down 1.4%

Shares of NXST stock opened at $203.91 on Wednesday. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market capitalization of $6.18 billion, a PE ratio of 10.59, a PEG ratio of 1.54 and a beta of 1.05. The stock has a fifty day simple moving average of $187.22 and a two-hundred day simple moving average of $171.84.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.54 earnings per share. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 38.63%.

Insider Activity

In other news, insider Andrew Alford sold 757 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the insider owned 10,528 shares in the company, valued at $1,739,752. This trade represents a 6.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Ann Gliha sold 757 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $125,094.25. Following the transaction, the executive vice president owned 12,826 shares of the company’s stock, valued at approximately $2,119,496.50. The trade was a 5.57% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,291 shares of company stock valued at $1,543,502. 6.70% of the stock is owned by corporate 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.