Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 31.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 713 shares of the company’s stock after acquiring an additional 170 shares during the period. Fifth Third Bancorp’s holdings in Nexstar Media Group were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NXST. SBI Securities Co. Ltd. acquired a new position in Nexstar Media Group during the fourth quarter worth $25,000. Whipplewood Advisors LLC lifted its stake in shares of Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after purchasing an additional 274 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Nexstar Media Group by 2,126.3% in the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock valued at $76,000 after purchasing an additional 404 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company’s stock valued at $96,000 after purchasing an additional 218 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark decreased their price target on 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. Finally, Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Nexstar Media Group Stock Up 0.5%

Nexstar Media Group stock opened at $166.59 on Friday. The stock’s 50 day moving average price is $162.82 and its 200 day moving average price is $162.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $5.08 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. Nexstar Media Group’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.16 earnings per share. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.86 per share. The ex-dividend date was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.47%. Nexstar Media Group’s payout ratio is 37.69%.

Insiders Place Their Bets

In other Nexstar Media Group news, EVP Lee Ann Gliha sold 757 shares of the company’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the executive vice president now directly owns 12,826 shares in the company, valued at $2,119,496.50. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the sale, the insider now owns 5,405 shares of the company’s stock, valued at $983,601.90. This represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,242 shares of company stock worth $4,352,688. 6.70% of the stock is 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.