Nexstar Media Group, Inc. $NXST Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 194.9% during the second quarter, HoldingsChannel reports. The firm owned 15,092 shares of the company’s stock after buying an additional 9,975 shares during the quarter. Franklin Resources Inc.’s holdings in Nexstar Media Group were worth $2,610,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Impact Capital Partners LLC increased its holdings in Nexstar Media Group by 2.0% in the second 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 boosted its position in shares of Nexstar Media Group by 3.8% during 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. increased its holdings 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 valued at $207,000 after acquiring an additional 81 shares during the last quarter. Drive Wealth Management LLC raised its position in shares of Nexstar Media Group by 6.9% during the 2nd quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after acquiring an additional 81 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Nexstar Media Group by 0.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock worth $2,003,000 after acquiring an additional 88 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Benchmark boosted their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Guggenheim upped their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group Stock Performance

Shares of NXST opened at $190.92 on Thursday. The company’s 50 day simple moving average is $192.92 and its 200-day simple moving average is $189.12. The firm has a market cap of $5.79 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.49 and a beta of 0.85. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 6th. The company reported $2.14 EPS for the quarter, missing the consensus estimate of $2.62 by ($0.48). The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.27 EPS. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were paid a dividend of $1.86 per share. The ex-dividend date was Wednesday, November 12th. This represents a $7.44 annualized dividend and a dividend yield of 3.9%. Nexstar Media Group’s dividend payout ratio is 46.13%.

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.