FORA Capital LLC Increases Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

FORA Capital LLC increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 119.9% in the fourth quarter, Holdings Channel reports. The firm owned 9,474 shares of the company’s stock after buying an additional 5,166 shares during the quarter. FORA Capital LLC’s holdings in Nexstar Media Group were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of NXST. Barclays PLC lifted its position in shares of Nexstar Media Group by 16.8% in the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock valued at $7,448,000 after acquiring an additional 6,475 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at approximately $33,000. Tidal Investments LLC grew its holdings in Nexstar Media Group by 57.8% during the 3rd quarter. Tidal Investments LLC now owns 3,217 shares of the company’s stock worth $532,000 after acquiring an additional 1,178 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after purchasing an additional 68 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Nexstar Media Group by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock worth $1,600,000 after purchasing an additional 140 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Benchmark reduced their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and an average target price of $205.71.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 32,096 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total value of $5,477,824.32. Following the sale, the chief executive officer now directly owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares of the company’s stock, valued at $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,105 shares of company stock valued at $6,722,463. 6.30% of the stock is owned by insiders.

Nexstar Media Group Stock Up 5.4 %

Shares of NXST opened at $164.35 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The firm’s 50 day moving average is $162.59 and its 200-day moving average is $162.20. The stock has a market capitalization of $5.01 billion, a PE ratio of 9.51, a P/E/G ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $5.16 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.53%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

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.