Western Wealth Management LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,796 shares of the company’s stock, valued at approximately $1,229,000.
A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Nexstar Media Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock valued at $284,738,000 after acquiring an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Nexstar Media Group by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock worth $157,114,000 after purchasing an additional 13,084 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the completion of the sale, the insider directly owned 5,738 shares of the company’s stock, valued at $1,012,297.96. The trade was a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Perry A. Sook acquired 12,235 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were purchased at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the acquisition, the chief executive officer owned 899,044 shares in the company, valued at approximately $145,878,879.44. The trade was a 1.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last ninety days. 7.00% of the stock is owned by company insiders.
Nexstar Media Group Stock Performance
Nexstar Media Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $7.44 annualized dividend and a yield of 3.9%. Nexstar Media Group’s dividend payout ratio is 159.66%.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NXST. Benchmark lowered their price target on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, April 6th. Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Zacks Research downgraded Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $259.67.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.
Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.
Featured Articles
- Five stocks we like better than Nexstar Media Group
- 3 Fixed-Income ETFs Show Why Yield Is Only Part of the Income Story
- AbbVie Quietly Solved Its Biggest Problem—Now What?
- Rio Tinto’s Results Make the Case for Looking Beyond Tech in the AI Trade
- Strategy’s Structural Strength: Hidden in a $8 Billion Illusion
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 – Free Report).
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.
