Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 34,331 shares of the company’s stock after acquiring an additional 944 shares during the quarter. King Luther Capital Management Corp’s holdings in Nexstar Media Group were worth $5,699,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Granite Group Advisors LLC boosted its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after buying an additional 72 shares during the period. Quadrant Capital Group LLC grew its stake in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after purchasing an additional 87 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Nexstar Media Group by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Two 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.67.

Nexstar Media Group Trading Down 0.8 %

Shares of Nexstar Media Group stock opened at $166.40 on Friday. The firm has a market capitalization of $5.48 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm’s 50 day moving average is $169.72 and its 200 day moving average is $165.78. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.64 earnings per share. Equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.06%. Nexstar Media Group’s payout ratio is currently 57.19%.

Insider Activity at Nexstar Media Group

In related news, EVP Blake Russell sold 2,782 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the transaction, the executive vice president now owns 22,329 shares in the company, valued at $3,794,143.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Nexstar Media Group news, EVP Blake Russell sold 2,782 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the sale, the executive vice president now directly owns 22,329 shares of the company’s stock, valued at $3,794,143.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,426 shares of company stock worth $5,116,478. 5.90% of the stock is owned by company 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.