Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,624 shares of the company’s stock after purchasing an additional 2,481 shares during the quarter. Empowered Funds LLC owned 0.07% of Nexstar Media Group worth $3,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXST. EverSource Wealth Advisors LLC lifted its holdings in Nexstar Media Group by 632.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after acquiring an additional 177 shares during the period. First United Bank & Trust acquired a new position in Nexstar Media Group in the fourth quarter valued at approximately $33,000. SRS Capital Advisors Inc. lifted its holdings in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora acquired a new position in Nexstar Media Group in the fourth quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC lifted its holdings in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Weitman sold 432 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,329.76. Following the completion of the sale, the insider now owns 10,902 shares of the company’s stock, valued at $1,825,321.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,826 shares of company stock worth $1,080,597. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NXST has been the subject of a number of analyst reports. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $190.00 to $221.00 in a report on Monday, May 13th. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Thursday, June 20th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, May 9th. Finally, Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.67.

Nexstar Media Group Price Performance

Shares of NXST traded down $0.81 during trading hours on Friday, hitting $174.06. 237,356 shares of the stock were exchanged, compared to its average volume of 403,598. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.50. The stock’s 50-day moving average price is $162.84 and its two-hundred day moving average price is $165.21.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s payout ratio is 57.19%.

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.