Peregrine Capital Management LLC raised its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 86.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,850 shares of the company’s stock after purchasing an additional 29,209 shares during the period. Peregrine Capital Management LLC owned approximately 0.14% of Nexstar Media Group worth $5,260,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NXST. Guggenheim Capital LLC raised its position in Nexstar Media Group by 4.8% during the fourth quarter. Guggenheim Capital LLC now owns 2,879 shares of the company’s stock valued at $337,000 after purchasing an additional 132 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Nexstar Media Group by 25.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,339 shares of the company’s stock valued at $695,000 after purchasing an additional 1,298 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nexstar Media Group by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 561,934 shares of the company’s stock worth $66,071,000 after buying an additional 19,521 shares in the last quarter. Norges Bank acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $87,109,000. Finally, Franklin Resources Inc. acquired a new position in shares of Nexstar Media Group during the fourth quarter worth $253,000.
Shares of Nexstar Media Group stock opened at $87.65 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 3.78. Nexstar Media Group Inc has a twelve month low of $43.37 and a twelve month high of $133.25. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.65 and a beta of 1.88. The company’s fifty day moving average is $83.98 and its 200 day moving average is $88.57.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.57. Nexstar Media Group had a net margin of 9.48% and a return on equity of 18.14%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Nexstar Media Group’s revenue for the quarter was up 74.2% on a year-over-year basis. As a group, equities analysts anticipate that Nexstar Media Group Inc will post 13.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $2.24 dividend on an annualized basis and a yield of 2.56%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 44.44%.
NXST has been the subject of several research analyst reports. BidaskClub upgraded shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Friday. Wells Fargo & Co upped their price target on shares of Nexstar Media Group from $81.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. B. Riley upped their price target on shares of Nexstar Media Group from $110.00 to $115.00 in a report on Thursday, May 7th. Finally, Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $112.13.
In other Nexstar Media Group news, Director Dennis Miller sold 1,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $100.57, for a total transaction of $100,570.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 2,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 2,875 shares in the company, valued at approximately $287,500. The disclosure for this sale can be found here. Insiders have sold 12,657 shares of company stock worth $1,164,589 in the last ninety days. Insiders own 6.70% of the company’s stock.
Nexstar Media Group Company Profile
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.
See Also: Gap Down Stocks
Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group Inc (NASDAQ:NXST).
Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.