Epoch Investment Partners Inc. Has $16.78 Million Stock Position in Nexstar Media Group, Inc. $NXST

Epoch Investment Partners Inc. increased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 685.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,817 shares of the company’s stock after acquiring an additional 81,005 shares during the period. Epoch Investment Partners Inc.’s holdings in Nexstar Media Group were worth $16,784,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NXST. Merit Financial Group LLC grew its stake in Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after purchasing an additional 56 shares in the last quarter. Truist Financial Corp raised its stake in shares of Nexstar Media Group by 5.2% during the 4th quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock worth $231,000 after purchasing an additional 56 shares in the last quarter. WPG Advisers LLC raised its stake in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Nexstar Media Group by 15.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after purchasing an additional 80 shares in the last quarter. Finally, Trust Point Inc. boosted its holdings in shares of Nexstar Media Group by 4.1% in the 4th quarter. Trust Point Inc. now owns 2,199 shares of the company’s stock valued at $447,000 after buying an additional 87 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NXST shares. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $259.67.

Nexstar Media Group Trading Up 1.2%

Shares of Nexstar Media Group stock opened at $183.31 on Friday. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The business has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $202.15. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 39.34, a P/E/G ratio of 0.49 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 annualized dividend and a dividend yield of 4.1%. Nexstar Media Group’s dividend payout ratio is presently 159.66%.

Insider Activity at Nexstar Media Group

In related news, insider Gary Weitman sold 261 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the transaction, the insider owned 6,963 shares in the company, valued at approximately $1,189,350.03. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Blake Russell sold 261 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $44,581.41. Following the completion of the transaction, the executive vice president directly owned 28,296 shares in the company, valued at approximately $4,833,239.76. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 in the last quarter. 7.00% of the stock is owned by corporate insiders.

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.