Inceptionr LLC Invests $523,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

Inceptionr LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,308 shares of the company's stock, valued at approximately $523,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group in the fourth quarter worth $25,000. True Wealth Design LLC bought a new position in shares of Nexstar Media Group in the third quarter worth $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group in the third quarter worth $33,000. Finally, Capital Performance Advisors LLP bought a new stake in Nexstar Media Group during the third quarter valued at $44,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the sale, the director now directly owns 6,975 shares in the company, valued at approximately $1,115,511.75. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 52,808 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,455 shares of company stock valued at $26,158,403 in the last quarter. Company insiders own 6.30% of the company's stock.

Remove Ads

Nexstar Media Group Trading Up 0.0 %

Nexstar Media Group stock traded up $0.03 during mid-day trading on Wednesday, hitting $169.09. The company's stock had a trading volume of 553,056 shares, compared to its average volume of 394,841. The business has a 50 day moving average price of $157.22 and a 200-day moving average price of $163.76. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

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

Nexstar Media Group Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on NXST shares. Guggenheim raised their price target on 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 upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus 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.