Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Private Management Group Inc.

Private Management Group Inc. raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.1% in the 4th quarter, Holdings Channel reports. The fund owned 181,231 shares of the company’s stock after acquiring an additional 176 shares during the period. Nexstar Media Group accounts for approximately 1.1% of Private Management Group Inc.’s holdings, making the stock its 29th biggest position. Private Management Group Inc.’s holdings in Nexstar Media Group were worth $28,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC grew its holdings in Nexstar Media Group by 20.3% during the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after acquiring an additional 71 shares during the period. Fifth Third Bancorp lifted its stake in shares of Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after purchasing an additional 81 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Nexstar Media Group by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock worth $2,867,000 after buying an additional 91 shares in the last quarter. Miracle Mile Advisors LLC grew its position in Nexstar Media Group by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,064 shares of the company’s stock worth $439,000 after buying an additional 119 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Nexstar Media Group by 5.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock worth $374,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. Rosenblatt Securities reduced their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Sean Compton sold 3,000 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the sale, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, insider Sean Compton sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $162.61, for a total value of $487,830.00. Following the sale, the insider now directly owns 9,489 shares of the company’s stock, valued at approximately $1,543,006.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the sale, the director now owns 4,525 shares of the company’s stock, valued at approximately $751,150. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock valued at $7,487,950 in the last ninety days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock traded up $2.10 on Tuesday, reaching $163.11. The company had a trading volume of 265,199 shares, compared to its average volume of 346,692. The company’s fifty day moving average is $165.67 and its 200 day moving average is $158.72. The company has a market cap of $5.45 billion, a P/E ratio of 16.94, a PEG ratio of 0.62 and a beta of 1.50. 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, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32.

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 analysts’ consensus estimates of $4.42 by ($1.10). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the firm earned $8.04 earnings per share. On average, research analysts forecast that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.14%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date was Thursday, February 8th. Nexstar Media Group’s dividend payout ratio is 70.20%.

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.