Nexstar Media Group, Inc. (NASDAQ:NXST) Holdings Boosted by Assetmark Inc.

Assetmark Inc. boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,672 shares of the company’s stock after purchasing an additional 787 shares during the period. Assetmark Inc. owned 0.18% of Nexstar Media Group worth $9,824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Channing Capital Management LLC grew its holdings in shares of Nexstar Media Group by 738.8% during the 3rd quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after acquiring an additional 445,859 shares in the last quarter. Norges Bank purchased a new position in shares of Nexstar Media Group during the 4th quarter valued at $51,812,000. Boston Financial Mangement LLC grew its holdings in shares of Nexstar Media Group by 156.5% during the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock valued at $34,218,000 after acquiring an additional 145,617 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after purchasing an additional 121,764 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Nexstar Media Group by 71.0% in the 3rd quarter. New York State Common Retirement Fund now owns 249,679 shares of the company’s stock valued at $35,796,000 after purchasing an additional 103,636 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock opened at $161.42 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.59 and a beta of 1.50. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The firm’s 50-day moving average price is $166.23 and its two-hundred day moving average price is $162.52.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $2.97 earnings per share. Nexstar Media Group’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a $1.69 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.19%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 2,300 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $165.00, for a total value of $379,500.00. Following the sale, the director now directly owns 12,727 shares in the company, valued at $2,099,955. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the sale, the chief executive officer now owns 636,788 shares in the company, valued at $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold 47,373 shares of company stock worth $7,632,777 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NXST. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Benchmark reissued a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, May 10th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Rosenblatt Securities dropped their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $206.00.

Nexstar Media Group 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.