Redwood Investment Management LLC Grows Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Redwood Investment Management LLC lifted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,087 shares of the company’s stock after purchasing an additional 476 shares during the period. Redwood Investment Management LLC’s holdings in Nexstar Media Group were worth $3,963,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NXST. Barclays PLC grew its stake in Nexstar Media Group by 16.8% in the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock worth $7,448,000 after purchasing an additional 6,475 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Nexstar Media Group by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after buying an additional 68 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nexstar Media Group by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after acquiring an additional 137 shares during the period. Davis Capital Management boosted its position in Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after purchasing an additional 122 shares in the last quarter. Finally, CX Institutional raised its holdings in Nexstar Media Group by 13.1% in the fourth quarter. CX Institutional now owns 1,579 shares of the company’s stock worth $249,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Benchmark lowered their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $174.59 on Thursday. The business has a fifty day moving average of $162.47 and a 200 day moving average of $162.22. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the business posted $5.16 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Monday, May 19th. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now directly owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This represents a 28.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Weitman sold 1,241 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $177.21, for a total value of $219,917.61. Following the sale, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,105 shares of company stock worth $6,722,463. Company insiders own 6.30% of the company’s stock.

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.