Pacer Advisors Inc. Acquires 130,283 Shares of Nexstar Media Group, Inc. $NXST

Pacer Advisors Inc. lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,913 shares of the company’s stock after buying an additional 130,283 shares during the period. Pacer Advisors Inc. owned about 1.42% of Nexstar Media Group worth $85,209,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Allworth Financial LP grew its stake in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $43,000. Caldwell Trust Co bought a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $44,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Nexstar Media Group by 70.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 273 shares of the company’s stock valued at $47,000 after buying an additional 113 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several analyst reports. Citigroup decreased their target price on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $222.38.

Nexstar Media Group Trading Up 0.2%

Shares of Nexstar Media Group stock opened at $203.68 on Friday. The business has a fifty day simple moving average of $194.07 and a two-hundred day simple moving average of $192.41. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.61 and a beta of 0.85. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.48). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. Nexstar Media Group’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.27 earnings per share. 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 was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Nexstar Media Group 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.