Dimensional Fund Advisors LP Acquires 62,331 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Dimensional Fund Advisors LP boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,326,476 shares of the company’s stock after acquiring an additional 62,331 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Nexstar Media Group were worth $220,189,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NXST. Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock valued at $481,000 after acquiring an additional 202 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Nexstar Media Group during the 4th quarter worth $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexstar Media Group during the 1st quarter worth $2,111,000. Finally, Vanguard Group Inc. grew its stake in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $167.92 on Thursday. The firm’s 50 day moving average is $170.08 and its 200 day moving average is $165.68. The stock has a market capitalization of $5.53 billion, a P/E ratio of 14.21, a PEG ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. On average, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.03%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Analyst Ratings Changes

A number of research firms recently weighed in on NXST. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.67.

Insider Buying and Selling at Nexstar Media Group

In other news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the transaction, the insider now directly owns 10,684 shares in the company, valued at $1,715,957.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rachel Morgan sold 6,196 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The disclosure for this sale can be found here. Insiders sold 27,644 shares of company stock valued at $4,643,760 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

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.