Nexstar Media Group, Inc. (NASDAQ:NXST) Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,002 shares of the company’s stock after buying an additional 294 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of Nexstar Media Group worth $14,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NXST. Whipplewood Advisors LLC grew its holdings in Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock worth $55,000 after buying an additional 274 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc boosted its stake in Nexstar Media Group by 2,126.3% during 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 in the last quarter. UMB Bank n.a. boosted its stake in Nexstar Media Group by 68.6% during 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 in the last quarter. Finally, Rossby Financial LCC bought a new position in Nexstar Media Group during the 1st quarter valued at $113,000. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Stock Performance

NXST opened at $184.85 on Friday. The firm has a market cap of $5.64 billion, a PE ratio of 9.36, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The business has a fifty day simple moving average of $174.00 and a 200-day simple moving average of $164.28. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued 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. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.16 EPS. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 annualized dividend and a dividend yield of 4.02%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Insiders Place Their Bets

In other news, insider Brett Jenkins sold 610 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $100,802.50. Following the completion of the sale, the insider owned 25,616 shares of the company’s stock, valued at $4,233,044. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rachel Morgan sold 329 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $54,367.25. Following the sale, the executive vice president directly owned 2,122 shares of the company’s stock, valued at approximately $350,660.50. The trade was a 13.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,474 shares of company stock valued at $3,666,988 over the last quarter. 6.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NXST. 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 note on Thursday, May 1st. Benchmark decreased their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Nexstar Media Group Profile

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.