Janus Henderson Group PLC Acquires 494 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Janus Henderson Group PLC raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,074 shares of the company’s stock after acquiring an additional 494 shares during the quarter. Janus Henderson Group PLC’s holdings in Nexstar Media Group were worth $2,223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Nexstar Media Group during the fourth quarter worth about $25,000. Jones Financial Companies Lllp increased its stake in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after acquiring an additional 392 shares during the last quarter. Venturi Wealth Management LLC raised its position in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after purchasing an additional 209 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Nexstar Media Group by 49.7% during the fourth quarter. Covestor Ltd now owns 949 shares of the company’s stock worth $150,000 after acquiring an additional 315 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now owns 5,405 shares of the company’s stock, valued at $983,601.90. This trade represents a 41.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company’s stock, valued at $137,563,262.73. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,558 shares of company stock valued at $7,504,098. 6.70% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $175.74 on Wednesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a 50-day moving average of $162.85 and a 200 day moving average of $162.11. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm earned $5.16 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXST. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Guggenheim upped their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Benchmark dropped their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.