Signet Financial Management LLC Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Signet Financial Management LLC raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,603 shares of the company’s stock after buying an additional 246 shares during the quarter. Signet Financial Management LLC’s holdings in Nexstar Media Group were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NXST. Channing Capital Management LLC grew its position in Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock worth $72,576,000 after buying an additional 445,859 shares in the last quarter. Norges Bank purchased a new position in Nexstar Media Group during the fourth quarter worth about $64,347,000. JPMorgan Chase & Co. boosted its holdings in shares of Nexstar Media Group by 44.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 607,631 shares of the company’s stock worth $87,116,000 after purchasing an additional 186,486 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in shares of Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after purchasing an additional 145,617 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after purchasing an additional 121,764 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the transaction, the director now owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisbeth Mcnabb sold 3,175 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $168.00, for a total value of $533,400.00. Following the completion of the transaction, the director now directly owns 5,252 shares of the company’s stock, valued at approximately $882,336. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 in the last 90 days. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Nexstar Media Group Trading Down 0.5 %

NASDAQ NXST opened at $159.05 on Wednesday. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $165.77 and a 200-day moving average of $158.01. The firm has a market cap of $5.32 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.60 and a beta of 1.50.

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

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $1.69 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.35. 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 4.25%. Nexstar Media Group’s dividend payout ratio is presently 70.20%.

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.