Assetmark Inc. Boosts Stake in Nexstar Media Group, Inc. $NXST

Assetmark Inc. boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,770 shares of the company’s stock after purchasing an additional 6,539 shares during the period. Assetmark Inc.’s holdings in Nexstar Media Group were worth $9,000,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Torren Management LLC purchased a new stake in Nexstar Media Group in the 4th quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of Nexstar Media Group in the third quarter worth approximately $28,000. WPG Advisers LLC increased its stake in shares of Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Nexstar Media Group in the third quarter worth $59,000. Finally, State of Wyoming bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $54,000. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the sale, the director owned 5,658 shares of the company’s stock, valued at $1,018,440. The trade was a 15.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Michael Biard sold 1,227 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $174.21, for a total value of $213,755.67. Following the sale, the chief operating officer directly owned 17,105 shares in the company, valued at $2,979,862.05. This trade represents a 6.69% 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. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 over the last three months. 7.00% of the stock is owned by company insiders.

Nexstar Media Group Stock Up 0.4%

NXST opened at $184.45 on Tuesday. The company has a market capitalization of $5.63 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 0.46 and a beta of 0.91. The firm has a 50-day simple moving average of $179.61 and a two-hundred day simple moving average of $202.76. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 52 week low of $154.47 and a 52 week high of $254.30.

Nexstar Media Group Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $252.00 to $220.00 in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft cut their target price on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Benchmark lowered their price target on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.67.

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.