Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by LSV Asset Management

LSV Asset Management grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,384,505 shares of the company’s stock after purchasing an additional 72,462 shares during the quarter. LSV Asset Management owned approximately 4.08% of Nexstar Media Group worth $217,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NXST. SRS Capital Advisors Inc. lifted its stake in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after buying an additional 186 shares during the last quarter. OLD Second National Bank of Aurora purchased a new stake in Nexstar Media Group in the 4th quarter valued at $45,000. Itau Unibanco Holding S.A. purchased a new position in Nexstar Media Group during the 3rd quarter worth $65,000. Signaturefd LLC increased its stake in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after purchasing an additional 71 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in shares of Nexstar Media Group in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction on Wednesday, March 27th. The shares were 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 in the company, valued at approximately $2,054,452.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Dennis J. Fitzsimons sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lisbeth Mcnabb sold 3,175 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $168.00, for a total value of $533,400.00. Following the sale, the director now owns 5,252 shares of the company’s stock, valued at approximately $882,336. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is owned by company insiders.

Nexstar Media Group Price Performance

Shares of NXST traded up $2.26 on Friday, reaching $166.56. The stock had a trading volume of 272,399 shares, compared to its average volume of 237,667. The firm has a 50-day moving average of $164.36 and a 200 day moving average of $159.94. The firm has a market capitalization of $5.49 billion, a PE ratio of 17.30, a PEG ratio of 0.62 and a beta of 1.50. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is currently 70.20%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Rosenblatt Securities lowered their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $193.83.

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.