Brandywine Global Investment Management LLC Acquires 36,381 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Brandywine Global Investment Management LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 61.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,291 shares of the company's stock after acquiring an additional 36,381 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.31% of Nexstar Media Group worth $15,053,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC increased its holdings in Nexstar Media Group by 99.7% during the 3rd quarter. Cerity Partners LLC now owns 7,136 shares of the company's stock valued at $1,180,000 after purchasing an additional 3,563 shares during the period. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its holdings in shares of Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock valued at $4,339,000 after acquiring an additional 10,603 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Nexstar Media Group in the third quarter worth $728,000. Finally, Verition Fund Management LLC boosted its holdings in Nexstar Media Group by 25.2% in the third quarter. Verition Fund Management LLC now owns 7,344 shares of the company's stock valued at $1,214,000 after acquiring an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

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Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now owns 3,975 shares of the company's stock, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now owns 5,405 shares in the company, valued at $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,105 shares of company stock valued at $6,722,463 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Down 8.1 %

NXST stock traded down $13.54 on Friday, reaching $153.42. 930,637 shares of the company traded hands, compared to its average volume of 358,800. 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 firm has a fifty day simple moving average of $164.06 and a 200-day simple moving average of $164.89. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company has a market cap of $4.68 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.48 billion. Research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.85%. Nexstar Media Group's dividend payout ratio is presently 34.56%.

Wall Street Analyst Weigh In

NXST has been the subject of several research analyst reports. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. StockNews.com cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and a consensus price target of $208.43.

Nexstar Media Group Company 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.