III Capital Management Purchases 13,000 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

III Capital Management raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 433.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,000 shares of the company’s stock after buying an additional 13,000 shares during the period. Nexstar Media Group makes up approximately 0.4% of III Capital Management’s portfolio, making the stock its 26th largest position. III Capital Management’s holdings in Nexstar Media Group were worth $2,528,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Nexstar Media Group during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group during the third quarter valued at approximately $33,000. Jones Financial Companies Lllp increased its position in shares of Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock worth $124,000 after purchasing an additional 392 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Nexstar Media Group by 31.0% in the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock valued at $139,000 after buying an additional 209 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 0.8 %

Shares of NASDAQ:NXST opened at $152.12 on Monday. Nexstar Media Group, Inc. has a 12-month low of $143.32 and a 12-month high of $191.86. The business has a fifty day simple moving average of $163.19 and a 200 day simple moving average of $163.17. The firm has a market cap of $4.64 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.45 and a beta of 1.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm 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%. Analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current 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 $1.86 dividend. 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 4.89%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction dated 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. This trade represents a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the business’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of analyst reports. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Benchmark upped their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.43.

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.