Kiltearn Partners LLP Makes New $5.26 Million Investment in Nexstar Media Group, Inc. $NXST

Kiltearn Partners LLP bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the second quarter, Holdings Channel reports. The firm bought 146,131 shares of the company’s stock, valued at approximately $5,262,000. Nexstar Media Group makes up 1.3% of Kiltearn Partners LLP’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Nexstar Media Group by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock worth $284,738,000 after acquiring an additional 10,949 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Nexstar Media Group by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock valued at $239,950,000 after purchasing an additional 23,360 shares during the last quarter. Alliancebernstein L.P. boosted its position in Nexstar Media Group by 27.1% during the second quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the last quarter. Geode Capital Management LLC grew its stake in Nexstar Media Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Nexstar Media Group in the second quarter valued at about $27,241,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Down 0.6%

NXST stock opened at $186.14 on Friday. The firm has a market cap of $5.73 billion, a PE ratio of 35.73 and a beta of 0.91. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30. The company has a fifty day simple moving average of $180.87 and a 200 day simple moving average of $199.11. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company earned $3.06 earnings per share. The company’s quarterly revenue was up 62.2% compared to the same quarter last year. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. Nexstar Media Group’s dividend payout ratio is 142.80%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 875 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $154,367.50. Following the transaction, the insider owned 14,332 shares in the company, valued at $2,528,451.44. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 4,008 shares of Nexstar Media Group stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $187.46, for a total transaction of $751,339.68. Following the completion of the transaction, the insider directly owned 1,792 shares in the company, valued at approximately $335,928.32. This represents a 69.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,584 shares of company stock worth $3,899,531 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research lowered Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.00.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.