Vestcor Inc Grows Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Vestcor Inc boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 83.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,797 shares of the company's stock after purchasing an additional 2,183 shares during the quarter. Vestcor Inc's holdings in Nexstar Media Group were worth $758,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Nexstar Media Group by 9.8% during the 4th quarter. Farther Finance Advisors LLC now owns 4,802 shares of the company's stock valued at $759,000 after acquiring an additional 429 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Nexstar Media Group by 8.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,173 shares of the company's stock valued at $659,000 after acquiring an additional 339 shares during the period. Inspire Advisors LLC bought a new position in Nexstar Media Group during the 4th quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Nexstar Media Group by 9.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,002 shares of the company's stock valued at $1,264,000 after acquiring an additional 691 shares during the period. Finally, Capital Management Corp VA lifted its stake in Nexstar Media Group by 13.4% during the 4th quarter. Capital Management Corp VA now owns 184,001 shares of the company's stock valued at $29,067,000 after acquiring an additional 21,706 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have issued reports on NXST. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. 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 report on Friday, February 28th. 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 report on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective 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 report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $208.43.

Insider Activity

In other Nexstar Media Group news, CEO Perry A. Sook sold 52,808 shares of the business's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. The trade was a 7.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Thomas Mcmillen sold 750 shares of the business's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now directly owns 6,975 shares of the company's stock, valued at $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,250 shares of company stock worth $20,450,616 over the last quarter. Insiders own 6.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded down $1.90 on Thursday, hitting $177.38. 443,639 shares of the company traded hands, compared to its average volume of 331,942. The stock has a market capitalization of $5.41 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The business has a 50-day simple moving average of $158.73 and a 200 day simple moving average of $163.92.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.49 billion for 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%. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.19%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is presently 34.56%.

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.