American Century Companies Inc. Raises Position in Nexstar Media Group, Inc. $NXST

American Century Companies Inc. increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 25.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,784 shares of the company’s stock after buying an additional 1,764 shares during the quarter. American Century Companies Inc.’s holdings in Nexstar Media Group were worth $1,574,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Whipplewood Advisors LLC grew its position in Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after acquiring an additional 274 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Nexstar Media Group by 2,293.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock valued at $69,000 after purchasing an additional 367 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after purchasing an additional 154 shares during the period. Versant Capital Management Inc grew its holdings 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. Finally, SBI Securities Co. Ltd. increased its stake in Nexstar Media Group by 186.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock worth $81,000 after buying an additional 295 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Andrew Alford sold 757 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the insider owned 10,528 shares of the company’s stock, valued at approximately $1,739,752. The trade was a 6.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rachel Morgan sold 329 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $54,367.25. Following the completion of the sale, the executive vice president directly owned 2,122 shares in the company, valued at approximately $350,660.50. This trade represents a 13.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,209 shares of company stock valued at $860,787 in the last three months. 6.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NXST shares. Wells Fargo & Company upped their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Benchmark boosted their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Zacks Research upgraded Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Guggenheim lifted their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Barrington Research reiterated an “outperform” rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $202.96 on Wednesday. The company has a market cap of $6.15 billion, a P/E ratio of 10.54, a PEG ratio of 1.52 and a beta of 1.04. The business has a 50 day moving average of $190.49 and a two-hundred day moving average of $173.65. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.54 EPS. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 annualized dividend and a yield of 3.7%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 38.63%.

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.