Empowered Funds LLC Raises Position in Nexstar Media Group, Inc. $NXST

Empowered Funds LLC grew its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,847 shares of the company’s stock after purchasing an additional 2,691 shares during the quarter. Empowered Funds LLC’s holdings in Nexstar Media Group were worth $11,907,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Impact Capital Partners LLC raised its position in Nexstar Media Group by 2.0% in the 2nd quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock valued at $494,000 after buying an additional 55 shares during the last quarter. Lynx Investment Advisory grew its stake in shares of Nexstar Media Group by 3.8% in the 2nd quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock worth $311,000 after acquiring an additional 66 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Nexstar Media Group by 7.3% in the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock worth $207,000 after acquiring an additional 81 shares in the last quarter. Drive Wealth Management LLC raised its holdings in shares of Nexstar Media Group by 6.9% in the second quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock valued at $217,000 after purchasing an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of Nexstar Media Group by 0.8% during the second quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock valued at $2,003,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday. Zacks Research raised Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Benchmark lifted their price target on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Guggenheim upped their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $186.64 on Wednesday. The company has a market capitalization of $5.66 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.40 and a beta of 0.99. The business has a fifty day simple moving average of $196.18 and a two-hundred day simple moving average of $187.54. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.48). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company’s revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business posted $5.27 EPS. On average, analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a $1.86 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is 46.13%.

Nexstar Media Group 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.