Cornerstone Investment Partners LLC Purchases 605 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Cornerstone Investment Partners LLC grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 26.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,882 shares of the company’s stock after buying an additional 605 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Nexstar Media Group were worth $452,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NXST. OLD Second National Bank of Aurora acquired a new position in shares of Nexstar Media Group during the fourth quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nexstar Media Group by 5.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,815 shares of the company’s stock worth $1,225,000 after purchasing an additional 401 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in shares of Nexstar Media Group by 10.0% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,998 shares of the company’s stock worth $470,000 after purchasing an additional 273 shares in the last quarter. Signet Financial Management LLC lifted its position in shares of Nexstar Media Group by 10.4% during the fourth quarter. Signet Financial Management LLC now owns 2,603 shares of the company’s stock worth $408,000 after purchasing an additional 246 shares in the last quarter. Finally, Phocas Financial Corp. lifted its position in shares of Nexstar Media Group by 2.2% during the fourth quarter. Phocas Financial Corp. now owns 53,998 shares of the company’s stock worth $8,464,000 after purchasing an additional 1,144 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NXST. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, March 7th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities cut 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 report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Insider Transactions at Nexstar Media Group

In other news, EVP Michael Strober sold 1,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total transaction of $167,490.00. Following the completion of the sale, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Michael Strober sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the transaction, the executive vice president now owns 1,076 shares of the company’s stock, valued at $180,219.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total transaction of $244,850.00. Following the completion of the transaction, the director now directly owns 4,525 shares of the company’s stock, valued at approximately $751,150. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Trading Up 0.7 %

NASDAQ:NXST traded up $1.21 during trading hours on Friday, hitting $163.17. The stock had a trading volume of 47,085 shares, compared to its average volume of 345,826. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 0.59 and a beta of 1.50. The business’s 50 day moving average is $165.78 and its 200-day moving average is $158.04.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $8.04 EPS. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were given a dividend of $1.69 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date was Thursday, February 8th. This represents a $6.76 annualized dividend and a dividend yield of 4.14%. Nexstar Media Group’s dividend payout ratio is currently 70.20%.

Nexstar Media Group 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.