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

Signet Financial Management LLC raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,716 shares of the company’s stock after buying an additional 113 shares during the period. Signet Financial Management LLC’s holdings in Nexstar Media Group were worth $468,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NXST. Point72 Asset Management L.P. raised its holdings in Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares in the last quarter. Norges Bank bought a new position in Nexstar Media Group during the fourth quarter valued at about $51,812,000. International Assets Investment Management LLC grew its position in shares of Nexstar Media Group by 15,107.2% in the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after purchasing an additional 121,764 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Nexstar Media Group in the first quarter valued at about $14,421,000. Finally, LSV Asset Management grew its position in shares of Nexstar Media Group by 5.5% in the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after purchasing an additional 72,462 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the transaction, the executive vice president now owns 25,537 shares in the company, valued at $4,275,659.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,329.76. Following the completion of the transaction, the insider now owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The disclosure for this sale can be found here. Insiders sold a total of 6,826 shares of company stock worth $1,080,597 over the last quarter. Company insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Up 2.0 %

Shares of NXST opened at $159.80 on Friday. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 0.57 and a beta of 1.48. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a 50-day moving average price of $161.59 and a two-hundred day moving average price of $164.14.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.97 earnings per share. Equities analysts predict that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is 57.19%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NXST. Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Thursday, June 20th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, May 9th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $190.00 to $221.00 in a research report on Monday, May 13th. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Rosenblatt Securities decreased their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.00.

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.