King Luther Capital Management Corp increased its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 55.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,015 shares of the company’s stock after buying an additional 15,685 shares during the quarter. King Luther Capital Management Corp owned about 0.10% of Nexstar Media Group worth $3,583,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in Nexstar Media Group during the 3rd quarter worth $1,954,000. Brant Point Investment Management LLC raised its position in Nexstar Media Group by 128.6% during the 3rd quarter. Brant Point Investment Management LLC now owns 53,330 shares of the company’s stock worth $4,341,000 after purchasing an additional 30,000 shares during the last quarter. Allianz Asset Management GmbH raised its position in Nexstar Media Group by 405.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 148,530 shares of the company’s stock worth $12,090,000 after purchasing an additional 119,163 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Nexstar Media Group during the 3rd quarter worth $296,000. Finally, United Services Automobile Association raised its position in Nexstar Media Group by 2.8% during the 3rd quarter. United Services Automobile Association now owns 52,474 shares of the company’s stock worth $4,271,000 after purchasing an additional 1,451 shares during the last quarter.
In related news, Director Lisbeth Mcnabb sold 1,400 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $80.70, for a total value of $112,980.00. Following the completion of the sale, the director now directly owns 1,725 shares of the company’s stock, valued at approximately $139,207.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Keith P. Hopkins sold 1,625 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $80.35, for a total value of $130,568.75. Following the completion of the sale, the senior vice president now directly owns 3,125 shares of the company’s stock, valued at $251,093.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,925 shares of company stock valued at $1,954,553. Corporate insiders own 6.40% of the company’s stock.
Several brokerages recently issued reports on NXST. Zacks Investment Research lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Saturday. Wolfe Research began coverage on Nexstar Media Group in a research report on Friday. They set an “outperform” rating for the company. BidaskClub raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Stephens lifted their price objective on Nexstar Media Group from $94.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $115.00 price objective (up from $96.00) on shares of Nexstar Media Group in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Nexstar Media Group presently has an average rating of “Buy” and an average target price of $95.80.
NXST stock opened at $85.30 on Friday. Nexstar Media Group Inc has a 1-year low of $60.30 and a 1-year high of $89.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market capitalization of $3.95 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.03 and a beta of 1.75.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.15. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The firm had revenue of $693.00 million during the quarter, compared to analyst estimates of $676.34 million. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that Nexstar Media Group Inc will post 8.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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