Nexstar Media Group, Inc. $NXST Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 88,725 shares of the company’s stock after purchasing an additional 9,723 shares during the period. Envestnet Asset Management Inc.’s holdings in Nexstar Media Group were worth $15,345,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company’s stock valued at $240,481,000 after buying an additional 10,544 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Nexstar Media Group by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company’s stock valued at $203,964,000 after acquiring an additional 35,938 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 32.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company’s stock valued at $144,110,000 after acquiring an additional 195,574 shares during the last quarter. Northern Trust Corp raised its position in shares of Nexstar Media Group by 7.9% during the 1st quarter. Northern Trust Corp now owns 499,896 shares of the company’s stock worth $89,591,000 after acquiring an additional 36,757 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Nexstar Media Group by 71,715.8% during the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock worth $70,790,000 after purchasing an additional 394,437 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXST. Zacks Research raised Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Benchmark upped their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 8th. Barrington Research reiterated an “outperform” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Finally, Guggenheim raised their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Nexstar Media Group Stock Down 3.6%

NXST stock opened at $189.30 on Friday. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The company has a fifty day moving average price of $198.99 and a 200 day moving average price of $184.91. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $5.27 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 38.63%.

About Nexstar Media Group

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.