Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp grew its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,517 shares of the company’s stock after buying an additional 417 shares during the period. Alaska Permanent Fund Corp’s holdings in Nexstar Media Group were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OLD Second National Bank of Aurora acquired a new position in Nexstar Media Group in the 4th quarter worth approximately $45,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Nexstar Media Group in the third quarter worth $65,000. Signaturefd LLC raised its holdings in shares of Nexstar Media Group by 20.3% during the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after purchasing an additional 71 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Nexstar Media Group during the fourth quarter valued at $81,000. Finally, Huntington National Bank boosted its holdings in Nexstar Media Group by 95.2% in the third quarter. Huntington National Bank now owns 652 shares of the company’s stock valued at $93,000 after purchasing an additional 318 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total transaction of $244,850.00. Following the transaction, the director now directly owns 4,525 shares of the company’s stock, valued at $751,150. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the sale, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the completion of the transaction, the director now directly owns 4,525 shares of the company’s stock, valued at $751,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,508 shares of company stock valued at $7,487,950. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST traded down $2.51 during trading on Thursday, reaching $161.60. 24,589 shares of the company’s stock traded hands, compared to its average volume of 340,879. The firm has a market cap of $5.40 billion, a PE ratio of 17.04, a P/E/G ratio of 0.61 and a beta of 1.50. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The company has a 50-day simple moving average of $165.65 and a 200-day simple moving average of $158.91.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 earnings per share. As a group, analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a yield of 4.18%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio (DPR) is currently 70.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, March 7th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities lowered their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $193.83.

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.