Voloridge Investment Management LLC Purchases Shares of 44,788 Nexstar Media Group, Inc. (NASDAQ:NXST)

Voloridge Investment Management LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 44,788 shares of the company’s stock, valued at approximately $7,075,000. Voloridge Investment Management LLC owned 0.14% of Nexstar Media Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of Nexstar Media Group during the 4th quarter worth about $25,000. Jones Financial Companies Lllp grew its position in Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Nexstar Media Group by 99.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock worth $124,000 after purchasing an additional 392 shares during the period. Venturi Wealth Management LLC raised its holdings in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after buying an additional 209 shares during the period. Finally, Covestor Ltd lifted its position in shares of Nexstar Media Group by 49.7% in the 4th quarter. Covestor Ltd now owns 949 shares of the company’s stock valued at $150,000 after acquiring an additional 315 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In other news, CEO Perry A. Sook sold 32,096 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company’s stock, valued at approximately $137,563,262.73. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Weitman sold 424 shares of Nexstar Media Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $74,424.72. Following the completion of the transaction, the insider now owns 5,301 shares of the company’s stock, valued at approximately $930,484.53. The trade was a 7.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,558 shares of company stock valued at $7,504,098 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $171.51 on Monday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.45 and a beta of 1.06. The business has a 50 day moving average price of $162.75 and a 200 day moving average price of $161.81. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $5.16 EPS. The business’s revenue was down 3.9% compared to the same quarter last year. Research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, May 19th. Nexstar Media Group’s dividend payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

NXST has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. 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 note on Friday, February 28th. Finally, Benchmark decreased their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.