Sterling Capital Management LLC Has $211,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Sterling Capital Management LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 41.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,336 shares of the company’s stock after purchasing an additional 392 shares during the quarter. Sterling Capital Management LLC’s holdings in Nexstar Media Group were worth $211,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after buying an additional 68 shares during the last quarter. Jones Financial Companies Lllp grew its position in Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Davis Capital Management increased its holdings in Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after purchasing an additional 122 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Nexstar Media Group by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after purchasing an additional 137 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in Nexstar Media Group by 1.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock worth $1,600,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, insider Andrew Alford sold 3,768 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. The trade was a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock worth $6,722,463 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NXST shares. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim boosted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.43.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $147.50 on Monday. The stock has a 50-day moving average of $163.42 and a 200-day moving average of $163.68. Nexstar Media Group, Inc. has a one year low of $143.32 and a one year high of $191.86. The stock has a market cap of $4.50 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 5.04%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 34.56%.

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.