Invesco Ltd. Boosts Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Invesco Ltd. increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 185.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 219,561 shares of the company's stock after acquiring an additional 142,520 shares during the quarter. Invesco Ltd. owned about 0.71% of Nexstar Media Group worth $34,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Nexstar Media Group by 0.7% in the fourth quarter. Russell Investments Group Ltd. now owns 55,573 shares of the company's stock valued at $8,779,000 after purchasing an additional 370 shares during the period. Envestnet Asset Management Inc. raised its holdings in Nexstar Media Group by 0.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 78,708 shares of the company's stock valued at $12,434,000 after acquiring an additional 645 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $239,000. Provident Investment Management Inc. boosted its holdings in shares of Nexstar Media Group by 3.1% in the fourth quarter. Provident Investment Management Inc. now owns 5,789 shares of the company's stock worth $914,000 after acquiring an additional 175 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in shares of Nexstar Media Group in the fourth quarter valued at $1,430,000. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Trading Up 2.7 %

Shares of NXST traded up $4.02 during mid-day trading on Tuesday, reaching $150.44. The company's stock had a trading volume of 497,445 shares, compared to its average volume of 372,614. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52 week low of $143.32 and a 52 week high of $191.86. The company's fifty day moving average price is $163.35 and its two-hundred day moving average price is $163.47. The stock has a market cap of $4.59 billion, a PE ratio of 8.70, a P/E/G 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 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal 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 yield of 4.95%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group's dividend payout ratio (DPR) is presently 34.56%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. 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. Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Benchmark upped their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.43.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the sale, the insider now owns 5,405 shares of the company's stock, valued at approximately $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock valued at $6,722,463 in the last ninety days. Company insiders own 6.30% of the company's stock.

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.