Gabelli Funds LLC Acquires 35,596 Shares of Nexstar Media Group, Inc. $NXST

Gabelli Funds LLC boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 69.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,596 shares of the company’s stock after acquiring an additional 35,596 shares during the quarter. Gabelli Funds LLC owned approximately 0.29% of Nexstar Media Group worth $14,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Nexstar Media Group by 26.0% during the first quarter. Cetera Investment Advisers now owns 4,460 shares of the company’s stock valued at $799,000 after purchasing an additional 920 shares during the last quarter. LPL Financial LLC raised its position in Nexstar Media Group by 41.1% in the 1st quarter. LPL Financial LLC now owns 28,936 shares of the company’s stock worth $4,753,000 after purchasing an additional 8,430 shares during the last quarter. US Bancorp DE lifted its holdings in Nexstar Media Group by 7.5% during the 1st quarter. US Bancorp DE now owns 2,947 shares of the company’s stock worth $528,000 after buying an additional 205 shares in the last quarter. Deutsche Bank AG lifted its holdings in Nexstar Media Group by 112.8% during the 1st quarter. Deutsche Bank AG now owns 7,345 shares of the company’s stock worth $1,316,000 after buying an additional 3,894 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Nexstar Media Group in the 1st quarter valued at $1,714,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $195.91 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $5.94 billion, a P/E ratio of 12.15, a PEG ratio of 1.50 and a beta of 0.85. The business has a 50-day moving average of $192.53 and a 200-day moving average of $189.63. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36.

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

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group’s payout ratio is 46.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday, December 1st. Guggenheim lifted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Barrington Research reissued an “outperform” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group 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.