Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Davis Capital Management

Davis Capital Management boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,270 shares of the company’s stock after purchasing an additional 122 shares during the period. Davis Capital Management’s holdings in Nexstar Media Group were worth $990,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group in the third quarter valued at $25,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group in the third quarter valued at $30,000. Wilmington Savings Fund Society FSB bought a new position in shares of Nexstar Media Group in the third quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group in the third quarter valued at $44,000. Finally, UMB Bank n.a. increased its holdings in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after buying an additional 159 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,448 shares of company stock worth $23,828,076 over the last ninety days. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Up 0.5 %

Shares of NASDAQ:NXST opened at $153.57 on Wednesday. The stock has a market capitalization of $4.76 billion, a PE ratio of 8.88, a P/E/G ratio of 0.25 and a beta of 1.45. Nexstar Media Group, Inc. has a 1 year low of $147.25 and a 1 year high of $191.86. The firm has a fifty day moving average price of $162.30 and a 200 day moving average price of $167.18. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Finally, Guggenheim cut their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Nexstar Media Group Company Profile

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.