MML Investors Services LLC lifted its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,424 shares of the company’s stock after acquiring an additional 1,411 shares during the period. MML Investors Services LLC’s holdings in Nexstar Media Group were worth $360,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. TPG Group Holdings SBS Advisors Inc. bought a new stake in Nexstar Media Group in the 2nd quarter worth approximately $34,247,000. Brown Advisory Inc. grew its position in Nexstar Media Group by 36.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock worth $79,523,000 after purchasing an additional 291,197 shares during the period. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 16.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock worth $136,684,000 after purchasing an additional 257,729 shares during the period. Bank of America Corp DE grew its position in Nexstar Media Group by 59.8% in the 2nd quarter. Bank of America Corp DE now owns 560,840 shares of the company’s stock worth $41,165,000 after purchasing an additional 209,885 shares during the period. Finally, Federated Investors Inc. PA grew its position in Nexstar Media Group by 140.4% in the 2nd quarter. Federated Investors Inc. PA now owns 353,465 shares of the company’s stock worth $25,944,000 after purchasing an additional 206,410 shares during the period.
Shares of Nexstar Media Group stock opened at $85.30 on Friday. The firm has a market cap of $3.95 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.75. Nexstar Media Group Inc has a 1-year low of $60.30 and a 1-year high of $89.75. The company has a debt-to-equity ratio of 2.34, a quick ratio of 2.09 and a current ratio of 2.09.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The business had revenue of $693.00 million for the quarter, compared to analysts’ expectations of $676.34 million. Nexstar Media Group had a net margin of 23.45% and a return on equity of 19.12%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. As a group, equities analysts expect that Nexstar Media Group Inc will post 8.41 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 37.69%.
In other news, SVP Keith P. Hopkins sold 1,625 shares of Nexstar Media Group stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $80.35, for a total transaction of $130,568.75. Following the transaction, the senior vice president now owns 3,125 shares in the company, valued at approximately $251,093.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lisbeth Mcnabb sold 1,400 shares of Nexstar Media Group stock in a transaction on Friday, September 14th. The stock was sold at an average price of $80.70, for a total transaction of $112,980.00. Following the transaction, the director now owns 1,725 shares in the company, valued at approximately $139,207.50. The disclosure for this sale can be found here. Insiders have sold a total of 23,925 shares of company stock worth $1,954,553 in the last quarter. Corporate insiders own 6.40% of the company’s stock.
NXST has been the subject of a number of research analyst reports. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 18th. Noble Financial downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. ValuEngine raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. B. Riley lifted their target price on shares of Nexstar Media Group from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research downgraded shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $95.80.
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About Nexstar Media Group
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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