Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,353 shares of the company’s stock after purchasing an additional 48,076 shares during the quarter. Pacer Advisors Inc. owned approximately 1.35% of Nexstar Media Group worth $80,836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Nexstar Media Group by 0.8% during the first quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock worth $586,584,000 after purchasing an additional 27,714 shares in the last quarter. State Street Corp increased its holdings in shares of Nexstar Media Group by 0.5% in the 1st quarter. State Street Corp now owns 1,038,998 shares of the company’s stock valued at $179,393,000 after acquiring an additional 5,325 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 880.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 945,818 shares of the company’s stock valued at $18,158,000 after acquiring an additional 849,384 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Nexstar Media Group by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock valued at $135,026,000 after acquiring an additional 60,217 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Nexstar Media Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 680,425 shares of the company’s stock valued at $120,178,000 after acquiring an additional 4,613 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock traded up $0.15 during trading on Tuesday, hitting $150.22. The stock had a trading volume of 104,093 shares, compared to its average volume of 360,827. The company’s 50 day moving average price is $164.99 and its two-hundred day moving average price is $165.73. Nexstar Media Group, Inc. has a 1-year low of $133.09 and a 1-year high of $217.76. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.66 and a beta of 1.50. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.88 and a current ratio of 1.88.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Tuesday, August 8th. The company reported $2.64 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.24). Nexstar Media Group had a net margin of 13.31% and a return on equity of 29.41%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $5.56 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Nexstar Media Group, Inc. will post 11.77 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, August 9th. Nexstar Media Group’s dividend payout ratio is currently 29.65%.

Insider Activity

In other news, insider Thomas Carter sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $165.50, for a total transaction of $827,500.00. Following the completion of the transaction, the insider now owns 76,920 shares of the company’s stock, valued at approximately $12,730,260. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Lee Ann Gliha sold 910 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $160.03, for a total transaction of $145,627.30. Following the completion of the sale, the chief financial officer now owns 4,476 shares in the company, valued at approximately $716,294.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Carter sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $165.50, for a total value of $827,500.00. Following the sale, the insider now owns 76,920 shares of the company’s stock, valued at approximately $12,730,260. The disclosure for this sale can be found here. Insiders sold a total of 10,544 shares of company stock valued at $1,729,450 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NXST. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. StockNews.com began coverage on shares of Nexstar Media Group in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Barrington Research reiterated an “outperform” rating and issued a $235.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 8th. Rosenblatt Securities restated a “buy” rating and set a $230.00 target price on shares of Nexstar Media Group in a research report on Friday. Finally, Guggenheim boosted their target price on shares of Nexstar Media Group from $216.00 to $220.00 in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Nexstar Media Group Profile

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.