Advisors Asset Management Inc. Increases Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

by · The Cerbat Gem

Advisors Asset Management Inc. increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 46.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,908 shares of the company’s stock after purchasing an additional 6,984 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.07% of Nexstar Media Group worth $3,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 valued at $580,689,000 after buying an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Nexstar Media Group by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after acquiring an additional 83,829 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after acquiring an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its stake in Nexstar Media Group by 4.7% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock worth $33,524,000 after purchasing an additional 9,084 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. This trade represents a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,903 shares of company stock valued at $7,833,240. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Guggenheim lowered their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Get Our Latest Analysis on NXST

Nexstar Media Group Stock Up 0.4 %

Shares of NASDAQ:NXST opened at $169.75 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The business has a 50 day simple moving average of $168.93 and a two-hundred day simple moving average of $167.15. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The firm has a market capitalization of $5.27 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate 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 business’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

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. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.98%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Nexstar Media Group Company 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.

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