Fmr LLC decreased its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 27.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,349,867 shares of the company’s stock after selling 518,627 shares during the period. Fmr LLC owned 2.95% of Nexstar Media Group worth $99,080,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Management Group Inc. bought a new stake in Nexstar Media Group during the 2nd quarter valued at approximately $10,856,000. PNC Financial Services Group Inc. boosted its stake in Nexstar Media Group by 12.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,932 shares of the company’s stock valued at $801,000 after purchasing an additional 1,178 shares during the period. Dimensional Fund Advisors LP boosted its stake in Nexstar Media Group by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock valued at $136,684,000 after purchasing an additional 257,729 shares during the period. Brown Advisory Inc. boosted its stake in Nexstar Media Group by 36.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock valued at $79,523,000 after purchasing an additional 291,197 shares during the period. Finally, BlackRock Inc. boosted its stake in Nexstar Media Group by 7.3% during the 2nd quarter. BlackRock Inc. now owns 3,015,019 shares of the company’s stock valued at $221,304,000 after purchasing an additional 204,160 shares during the period.
Shares of NXST stock opened at $80.00 on Tuesday. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 2.59. Nexstar Media Group Inc has a 12 month low of $57.65 and a 12 month high of $89.75. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.00 and a beta of 1.89.
Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $1.86 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.14. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The company had revenue of $660.30 million during the quarter, compared to the consensus estimate of $657.92 million. During the same quarter last year, the company earned $0.91 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. equities research analysts forecast that Nexstar Media Group Inc will post 8.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were given a $0.375 dividend. The ex-dividend date was Thursday, August 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.88%. Nexstar Media Group’s dividend payout ratio is currently 37.69%.
In other Nexstar Media Group news, insider Andrew Alford sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $82.30, for a total value of $82,300.00. Following the completion of the sale, the insider now owns 370 shares in the company, valued at approximately $30,451. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Jones sold 2,238 shares of the firm’s stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $76.03, for a total value of $170,155.14. Following the completion of the sale, the insider now owns 10,500 shares of the company’s stock, valued at approximately $798,315. The disclosure for this sale can be found here. Insiders sold a total of 5,263 shares of company stock valued at $409,555 in the last quarter. Corporate insiders own 6.40% of the company’s stock.
Several analysts recently weighed in on NXST shares. ValuEngine upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 22nd. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Evercore ISI started coverage on Nexstar Media Group in a research note on Tuesday, July 31st. They set an “in-line” rating and a $87.00 target price for the company. Jefferies Financial Group restated a “buy” rating and set a $87.00 target price on shares of Nexstar Media Group in a research note on Tuesday, July 24th. Finally, B. Riley increased their target price on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.08.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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