Verdence Capital Advisors LLC Buys 88 Shares of Nexstar Media Group, Inc. $NXST

Verdence Capital Advisors LLC boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,579 shares of the company’s stock after buying an additional 88 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Nexstar Media Group were worth $2,003,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Nexstar Media Group by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,341,899 shares of the company’s stock worth $240,481,000 after purchasing an additional 10,544 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Nexstar Media Group by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,138,064 shares of the company’s stock worth $203,964,000 after purchasing an additional 35,938 shares during the period. Demars Financial Group LLC boosted its position in Nexstar Media Group by 13.6% during the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company’s stock worth $157,580,000 after purchasing an additional 105,516 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Nexstar Media Group by 32.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company’s stock worth $144,110,000 after purchasing an additional 195,574 shares during the period. Finally, Northern Trust Corp boosted its position in Nexstar Media Group by 7.9% during the first quarter. Northern Trust Corp now owns 499,896 shares of the company’s stock worth $89,591,000 after purchasing an additional 36,757 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Barrington Research reiterated an “outperform” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Benchmark increased their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday, October 8th. Finally, Guggenheim raised their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold 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 $225.00.

Nexstar Media Group Price Performance

NXST stock opened at $194.46 on Tuesday. The firm has a 50 day moving average of $201.72 and a 200-day moving average of $180.59. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The firm has a market capitalization of $5.90 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the business earned $3.54 earnings per share. Nexstar Media Group’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $1.86 per share. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a yield of 3.8%. Nexstar Media Group’s payout ratio is presently 38.63%.

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.