Comerica Bank boosted its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 2.0% in the 1st quarter, Holdings Channel reports. The firm owned 37,527 shares of the company’s stock after buying an additional 733 shares during the quarter. Comerica Bank’s holdings in Nexstar Media Group were worth $4,316,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Bridge LLC acquired a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $26,000. Penserra Capital Management LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $28,000. Private Capital Group LLC lifted its position in shares of Nexstar Media Group by 46.3% in the first quarter. Private Capital Group LLC now owns 392 shares of the company’s stock valued at $42,000 after buying an additional 124 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $66,000. Finally, Fort L.P. acquired a new stake in shares of Nexstar Media Group in the fourth quarter valued at approximately $77,000.
In other Nexstar Media Group news, Director Dennis Miller sold 3,125 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $108.61, for a total transaction of $339,406.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Jones sold 35,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $108.31, for a total value of $3,790,850.00. Following the transaction, the insider now owns 52,734 shares in the company, valued at approximately $5,711,619.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,573 shares of company stock worth $5,142,132. Corporate insiders own 6.40% of the company’s stock.
Shares of NASDAQ NXST opened at $107.73 on Friday. The company has a market cap of $4.90 billion, a PE ratio of 12.61, a PEG ratio of 1.59 and a beta of 1.58. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. Nexstar Media Group Inc has a 1-year low of $65.20 and a 1-year high of $119.93.
Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). The firm had revenue of $626.65 million for the quarter, compared to the consensus estimate of $640.35 million. Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. Nexstar Media Group’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts predict that Nexstar Media Group Inc will post 6.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.67%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 21.08%.
A number of equities analysts have recently weighed in on the company. Barrington Research reiterated a “buy” rating and set a $135.00 target price on shares of Nexstar Media Group in a research note on Monday. BidaskClub lowered Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Benchmark reiterated a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Nexstar Media Group in a research note on Thursday, March 21st. B. Riley increased their target price on Nexstar Media Group from $123.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, ValuEngine upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.13.
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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. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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