Atlas Capital Advisors Inc. Purchases Shares of 4,186 Nexstar Media Group, Inc. $NXST

Atlas Capital Advisors Inc. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,186 shares of the company’s stock, valued at approximately $850,000.

A number of other institutional investors have also recently made changes to their positions in NXST. Dorsal Capital Management LP bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $74,152,000. AQR Capital Management LLC lifted its stake in shares of Nexstar Media Group by 118.1% in the 2nd quarter. AQR Capital Management LLC now owns 543,612 shares of the company’s stock valued at $93,795,000 after purchasing an additional 294,308 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nexstar Media Group by 157.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 374,027 shares of the company’s stock valued at $73,960,000 after purchasing an additional 228,603 shares during the period. Norges Bank acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at about $41,474,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after purchasing an additional 187,864 shares during the period. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $174.50 on Monday. The stock’s 50 day simple moving average is $191.14 and its 200 day simple moving average is $207.28. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $5.33 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 15th. Nexstar Media Group’s payout ratio is currently 159.66%.

Nexstar Media Group News Roundup

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Several Nexstar executives, including Blake Russell, Andrew Alford, Sean Compton, Dana Zimmer, and Lee Ann Gliha, sold shares at $176.42. The filings say these were tax-withholding sales tied to equity award vesting, which usually makes them less concerning than discretionary insider selling. Nexstar Media Group insider filing
• Neutral Sentiment: Recent coverage noted that NXST has been weakening over the past month and remains below key moving averages, suggesting bearish momentum may be contributing to the stock’s decline. Nexstar Media Group stock down article
• Neutral Sentiment: Nexstar continues to offer a sizable dividend yield, but the payout ratio is elevated, which may limit upside enthusiasm from income investors. Nexstar Media Group stock page

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NXST. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $259.67.

Insider Activity

In other Nexstar Media Group news, EVP Lee Ann Gliha sold 752 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total transaction of $132,667.84. Following the completion of the sale, the executive vice president directly owned 19,510 shares of the company’s stock, valued at approximately $3,441,954.20. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brett Jenkins sold 284 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $176.42, for a total value of $50,103.28. Following the sale, the insider directly owned 28,443 shares of the company’s stock, valued at $5,017,914.06. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 17,641 shares of company stock worth $3,286,471. Company insiders own 7.00% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.