Victory Capital Management Inc. Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 97.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,711 shares of the company's stock after purchasing an additional 20,140 shares during the period. Victory Capital Management Inc. owned 0.13% of Nexstar Media Group worth $6,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NXST. Brooklyn Investment Group purchased a new position in Nexstar Media Group during the third quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in Nexstar Media Group during the fourth quarter valued at $25,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the third quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the third quarter valued at $33,000. Finally, Jones Financial Companies Lllp lifted its holdings in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NXST shares. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Barrington Research restated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

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Nexstar Media Group Stock Up 0.3 %

Shares of NXST stock traded up $0.51 during trading on Tuesday, reaching $174.52. The company's stock had a trading volume of 475,868 shares, compared to its average volume of 331,966. 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 company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 0.45 and a beta of 1.47. The stock's 50-day moving average price is $158.03 and its 200 day moving average price is $163.79. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.49 billion during 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, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.26%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's payout ratio is 34.56%.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company's stock, valued at $106,203,582.54. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,250 shares of company stock worth $20,450,616. Corporate insiders own 6.30% of the company's stock.

About Nexstar Media Group

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.