Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Signet Financial Management LLC

Signet Financial Management LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,603 shares of the company’s stock after purchasing an additional 246 shares during the period. Signet Financial Management LLC’s holdings in Nexstar Media Group were worth $408,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NXST. HighTower Advisors LLC grew its stake in shares of Nexstar Media Group by 2.9% in the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock worth $27,322,000 after acquiring an additional 5,389 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Nexstar Media Group by 15.3% during the 3rd 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 lifted its position in shares of Nexstar Media Group by 156.5% during the 3rd 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% during the 3rd quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock worth $7,406,000 after purchasing an additional 43,322 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Nexstar Media Group by 72.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock worth $1,747,000 after purchasing an additional 5,121 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $159.05 on Wednesday. The company has a 50-day simple moving average of $165.77 and a 200-day simple moving average of $158.01. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.60 and a beta of 1.50.

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

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Thursday, February 8th. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

Insider Activity

In other news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 $101,032,784.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were 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 $101,032,784.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now owns 12,027 shares in the company, valued at $2,054,452.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,508 shares of company stock valued at $7,487,950. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of several recent analyst reports. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. Finally, Rosenblatt Securities reduced their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.83.

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.