Osaic Holdings Inc. Boosts Position in Nexstar Media Group, Inc. $NXST

Osaic Holdings Inc. lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 89.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,543 shares of the company’s stock after acquiring an additional 4,040 shares during the quarter. Osaic Holdings Inc.’s holdings in Nexstar Media Group were worth $1,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in Nexstar Media Group by 27.1% during the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the period. AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 118.1% during the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares in the last quarter. Channing Capital Management LLC increased its position in shares of Nexstar Media Group by 0.4% during the second quarter. Channing Capital Management LLC now owns 486,880 shares of the company’s stock valued at $84,206,000 after buying an additional 2,155 shares during the period. Jones Financial Companies Lllp raised its stake in Nexstar Media Group by 71,715.8% in the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock worth $70,790,000 after buying an additional 394,437 shares in the last quarter. Finally, New Vernon Capital Holdings II LLC bought a new position in Nexstar Media Group in the first quarter worth about $60,064,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 1.3%

Shares of NASDAQ:NXST opened at $205.14 on Wednesday. The stock has a fifty day simple moving average of $194.69 and a two-hundred day simple moving average of $193.45. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.61 and a beta of 0.85. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company posted $5.27 earnings per share. The company’s revenue was down 12.3% on a year-over-year basis. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NXST shares. Citigroup reduced their target price on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.