Shaker Investments LLC OH Takes $510,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Shaker Investments LLC OH acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,256 shares of the company’s stock, valued at approximately $510,000.

Several other institutional investors also recently bought and sold shares of NXST. BlackRock Inc. boosted its position in Nexstar Media Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock valued at $586,584,000 after acquiring an additional 27,714 shares in the last quarter. State Street Corp grew its stake in Nexstar Media Group by 0.5% in the first quarter. State Street Corp now owns 1,038,998 shares of the company’s stock valued at $179,393,000 after purchasing an additional 5,325 shares during the last quarter. Morgan Stanley raised its holdings in Nexstar Media Group by 2.9% in the third quarter. Morgan Stanley now owns 1,014,676 shares of the company’s stock worth $145,474,000 after purchasing an additional 28,975 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Nexstar Media Group by 9.2% during the first quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock valued at $135,026,000 after buying an additional 60,217 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Nexstar Media Group by 44.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 607,631 shares of the company’s stock valued at $87,116,000 after buying an additional 186,486 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at $101,032,784.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of 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 can be accessed through this hyperlink. Also, Director Lisbeth Mcnabb sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $165.00, for a total value of $379,500.00. Following the completion of the sale, the director now owns 12,727 shares in the company, valued at approximately $2,099,955. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock valued at $7,487,950 in the last ninety days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST traded down $3.38 during trading hours on Friday, reaching $159.78. 255,181 shares of the company traded hands, compared to its average volume of 357,007. The stock has a market capitalization of $5.34 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.61 and a beta of 1.50. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average price of $166.28 and a 200-day moving average price of $157.49. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32.

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

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.23%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. The ex-dividend date was Thursday, February 8th. Nexstar Media Group’s payout ratio is presently 70.20%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NXST. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Rosenblatt Securities decreased their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.