Empowered Funds LLC Has $3.72 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

by · The Markets Daily

Empowered Funds LLC lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 13.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,507 shares of the company’s stock after selling 3,356 shares during the quarter. Empowered Funds LLC owned 0.07% of Nexstar Media Group worth $3,722,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Nexstar Media Group by 88.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,744 shares of the company’s stock valued at $807,000 after purchasing an additional 2,225 shares during the period. Vanguard Group Inc. raised its stake in Nexstar Media Group by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in Nexstar Media Group by 16.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 5,136 shares of the company’s stock worth $885,000 after acquiring an additional 728 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Nexstar Media Group by 41.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,857 shares of the company’s stock valued at $1,526,000 after acquiring an additional 2,591 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $410,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST stock opened at $162.18 on Tuesday. The business has a 50 day moving average of $168.61 and a 200-day moving average of $167.16. The firm has a market cap of $5.03 billion, a PE ratio of 9.38, a P/E/G ratio of 0.19 and a beta of 1.48. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is 39.10%.

Analyst Ratings Changes

NXST has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $198.50.

Check Out Our Latest Stock Report on NXST

Insiders Place Their Bets

In related news, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now owns 7,725 shares in the company, valued at approximately $1,270,299. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. This represents a 58.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,437 shares of company stock valued at $8,429,561. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Profile

(Free Report)

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.

See Also