Meritage Portfolio Management Purchases 885 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Meritage Portfolio Management boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 24.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,492 shares of the company’s stock after acquiring an additional 885 shares during the quarter. Meritage Portfolio Management’s holdings in Nexstar Media Group were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NXST. CWM LLC boosted its stake in shares of Nexstar Media Group by 11.9% in the 3rd quarter. CWM LLC now owns 3,346 shares of the company’s stock worth $480,000 after buying an additional 357 shares during the last quarter. Hunter Perkins Capital Management LLC purchased a new position in Nexstar Media Group in the third quarter valued at approximately $358,000. Bfsg LLC purchased a new position in Nexstar Media Group in the third quarter valued at approximately $233,000. Copeland Capital Management LLC lifted its stake in Nexstar Media Group by 15.3% in the third quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock valued at $72,063,000 after purchasing an additional 66,645 shares during the last quarter. Finally, Arcadia Investment Management Corp MI lifted its stake in Nexstar Media Group by 2.3% in the third quarter. Arcadia Investment Management Corp MI now owns 17,046 shares of the company’s stock valued at $2,444,000 after purchasing an additional 376 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Michael Strober sold 1,000 shares of the stock in a transaction dated 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 directly owns 1,076 shares in the company, valued at $180,219.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,508 shares of company stock valued at $7,487,950. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NXST has been the topic of several research analyst reports. Rosenblatt Securities dropped their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. Finally, TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

Nexstar Media Group Stock Performance

NXST stock traded up $0.11 during midday trading on Friday, reaching $161.09. 106,310 shares of the company’s stock traded hands, compared to its average volume of 339,930. The firm has a market capitalization of $5.39 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The company has a 50-day moving average price of $165.53 and a two-hundred day moving average price of $158.95. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

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

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.