Nexstar Media Group, Inc. (NASDAQ:NXST) is Fairbanks Capital Management Inc.’s 3rd Largest Position

Fairbanks Capital Management Inc. increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,362 shares of the company’s stock after acquiring an additional 304 shares during the quarter. Nexstar Media Group comprises approximately 5.6% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 3rd biggest position. Fairbanks Capital Management Inc.’s holdings in Nexstar Media Group were worth $8,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NXST. Granite Group Advisors LLC raised its position in shares of Nexstar Media Group by 5.1% in the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after purchasing an additional 72 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Nexstar Media Group by 0.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after purchasing an additional 87 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Nexstar Media Group by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock worth $6,974,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NXST. Benchmark reaffirmed a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group Trading Down 0.8 %

Nexstar Media Group stock opened at $161.45 on Monday. The business has a 50-day simple moving average of $170.45 and a two-hundred day simple moving average of $165.70. The company has a market cap of $5.21 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.18 and a beta of 1.50. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.64 earnings per share. Analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.19%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Rachel Morgan sold 6,196 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The disclosure for this sale can be found here. Insiders sold a total of 17,911 shares of company stock worth $2,939,762 in the last three months. 5.90% of the stock is currently owned by company insiders.

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.