Fondren Management LP bought a new position in shares of Nexstar Media Group Inc (NASDAQ:NXST) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $1,173,000. Nexstar Media Group comprises 0.8% of Fondren Management LP’s holdings, making the stock its 24th largest holding.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Hound Partners LLC bought a new position in Nexstar Media Group during the fourth quarter worth about $285,716,000. Neuberger Berman Group LLC boosted its holdings in Nexstar Media Group by 3.8% during the third quarter. Neuberger Berman Group LLC now owns 3,390,284 shares of the company’s stock worth $211,215,000 after buying an additional 122,949 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Nexstar Media Group by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 2,152,483 shares of the company’s stock worth $134,100,000 after buying an additional 132,245 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Nexstar Media Group by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 1,756,748 shares of the company’s stock worth $109,270,000 after buying an additional 158,626 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Nexstar Media Group by 2.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,583,020 shares of the company’s stock worth $123,792,000 after buying an additional 44,735 shares during the last quarter.
In related news, Director Lisbeth Mcnabb sold 5,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $79.61, for a total value of $398,050.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at approximately $398,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Blake Russell sold 20,000 shares of Nexstar Media Group stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $78.31, for a total value of $1,566,200.00. Following the completion of the sale, the senior vice president now directly owns 42,861 shares in the company, valued at approximately $3,356,444.91. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $2,755,550 in the last quarter. 8.40% of the stock is currently owned by company insiders.
Nexstar Media Group Inc (NASDAQ NXST) opened at $70.35 on Wednesday. Nexstar Media Group Inc has a 1-year low of $55.95 and a 1-year high of $82.95. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $3,299.12, a PE ratio of 7.04, a PEG ratio of 0.69 and a beta of 1.82.
Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.23. Nexstar Media Group had a return on equity of 14.44% and a net margin of 19.53%. The business had revenue of $653.66 million for the quarter, compared to analysts’ expectations of $645.98 million. During the same quarter in the previous year, the business posted $0.64 EPS. Nexstar Media Group’s revenue for the quarter was up 110.9% on a year-over-year basis. analysts forecast that Nexstar Media Group Inc will post 8.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, February 15th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.30. Nexstar Media Group’s payout ratio is 15.02%.
About Nexstar Media Group
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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