Foster & Motley Inc. Has $7.65 Million Stock Position in Nexstar Media Group, Inc. $NXST

Foster & Motley Inc. lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,244 shares of the company’s stock after purchasing an additional 3,181 shares during the quarter. Foster & Motley Inc.’s holdings in Nexstar Media Group were worth $7,652,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its position in shares of Nexstar Media Group by 39.5% during the second quarter. Allianz Asset Management GmbH now owns 195,173 shares of the company’s stock worth $33,755,000 after acquiring an additional 55,247 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $1,589,000. Verdence Capital Advisors LLC grew its stake in Nexstar Media Group by 0.8% in the second quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock valued at $2,003,000 after acquiring an additional 88 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $293,000. Finally, LRI Investments LLC acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $43,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on NXST shares. Guggenheim increased their price target on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nexstar Media Group in a research note on Wednesday, October 8th. Benchmark upped their target price on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Zacks Research upgraded Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Tuesday, August 19th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Nexstar Media Group Trading Up 0.4%

NXST opened at $190.14 on Friday. The business has a 50 day moving average of $202.24 and a 200-day moving average of $180.95. The stock has a market cap of $5.77 billion, a PE ratio of 9.87, a PEG ratio of 1.41 and a beta of 1.01. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 EPS. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s payout ratio is 38.63%.

Nexstar Media Group 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.