Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Capital Management Corp VA

Capital Management Corp VA lifted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 13.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 184,001 shares of the company's stock after purchasing an additional 21,706 shares during the quarter. Nexstar Media Group comprises about 5.2% of Capital Management Corp VA's portfolio, making the stock its 2nd largest holding. Capital Management Corp VA owned about 0.59% of Nexstar Media Group worth $29,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after buying an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Nexstar Media Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after acquiring an additional 18,675 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Nexstar Media Group by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after acquiring an additional 19,116 shares during the period. Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group during the 4th quarter valued at about $35,560,000. Finally, Bruni J V & Co. Co. increased its holdings in shares of Nexstar Media Group by 0.8% in the fourth quarter. Bruni J V & Co. Co. now owns 194,568 shares of the company's stock valued at $30,736,000 after purchasing an additional 1,568 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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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 stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares in the company, valued at approximately $704,409.75. This represents a 23.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $109,388,138.22. This represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,455 shares of company stock valued at $26,158,403. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Performance

NXST stock traded up $0.10 during midday trading on Wednesday, hitting $169.16. 683,059 shares of the stock traded hands, compared to its average volume of 398,882. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. 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 stock's fifty day simple moving average is $157.22 and its 200-day simple moving average is $163.76. The firm has a market cap of $5.16 billion, a P/E ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.47.

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

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio is 34.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Benchmark lifted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. 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 report on Friday, February 28th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average price target of $208.43.

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.