Brown Advisory Inc. Reduces Holdings in Nexstar Media Group, Inc. $NXST

Brown Advisory Inc. reduced its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 325,896 shares of the company’s stock after selling 26,269 shares during the quarter. Brown Advisory Inc.’s holdings in Nexstar Media Group were worth $56,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Claret Asset Management Corp boosted its stake in Nexstar Media Group by 4.1% during the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after purchasing an additional 53 shares during the last quarter. Impact Capital Partners LLC raised its position in shares of 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 lifted its stake in shares of Nexstar Media Group by 3.8% in the second quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock worth $311,000 after buying an additional 66 shares in the last quarter. Blue Trust Inc. boosted its position in Nexstar Media Group by 7.3% during the second quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock worth $207,000 after acquiring an additional 81 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its position in Nexstar Media Group by 6.9% during the second quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday. Wells Fargo & Company lifted their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Benchmark boosted their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Price Performance

NXST stock opened at $189.01 on Friday. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $223.36. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. The business has a fifty day moving average of $192.58 and a two-hundred day moving average of $189.23.

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

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a dividend of $1.86 per share. The ex-dividend date was Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 46.13%.

About Nexstar Media Group

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.