Private Management Group Inc. Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Private Management Group Inc. raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,231 shares of the company’s stock after acquiring an additional 176 shares during the quarter. Nexstar Media Group makes up about 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 29th biggest position. Private Management Group Inc. owned about 0.53% of Nexstar Media Group worth $28,408,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HighTower Advisors LLC grew its stake in Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock valued at $27,322,000 after acquiring an additional 5,389 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Nexstar Media Group by 15.3% in the third quarter. Copeland Capital Management LLC now owns 502,639 shares of the company’s stock worth $72,063,000 after purchasing an additional 66,645 shares during the last quarter. Boston Financial Mangement LLC increased its holdings in shares of Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after purchasing an additional 145,617 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Nexstar Media Group by 519.6% in the third quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock worth $7,406,000 after buying an additional 43,322 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Nexstar Media Group by 72.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock valued at $1,747,000 after buying an additional 5,121 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Trading Up 1.3 %

NXST stock traded up $2.10 during mid-day trading on Tuesday, reaching $163.11. The company had a trading volume of 265,199 shares, compared to its average volume of 346,692. The company has a market capitalization of $5.45 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 0.62 and a beta of 1.50. The firm has a 50 day moving average of $165.67 and a 200 day moving average of $158.72. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.42 by ($1.10). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the company earned $8.04 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.14%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 70.20%.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, March 7th. Rosenblatt Securities decreased their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Finally, TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.83.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now directly owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Perry A. Sook sold 31,758 shares of the business’s 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 transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The disclosure for this sale can be found here. In the last three months, insiders sold 46,508 shares of company stock valued at $7,487,950. Corporate insiders own 5.90% of the company’s stock.

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.