Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,000 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.16% of Nexstar Media Group worth $8,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in Nexstar Media Group by 2.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,188 shares of the company’s stock worth $2,015,000 after purchasing an additional 310 shares in the last quarter. Barclays PLC increased its position in shares of Nexstar Media Group by 16.8% in the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock worth $7,448,000 after acquiring an additional 6,475 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth approximately $3,747,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $33,000. Finally, Tidal Investments LLC lifted its position in shares of Nexstar Media Group by 57.8% in the 3rd quarter. Tidal Investments LLC now owns 3,217 shares of the company’s stock valued at $532,000 after acquiring an additional 1,178 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on NXST shares. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Benchmark upped their price target on Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.43.

Insider Buying and Selling

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the completion of the sale, the insider now owns 3,975 shares of the company’s stock, valued at $704,409.75. This represents a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. This represents a 41.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,105 shares of company stock worth $6,722,463. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 3.4 %

NXST opened at $147.19 on Thursday. The company has a market capitalization of $4.49 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. Nexstar Media Group, Inc. has a fifty-two week low of $143.32 and a fifty-two week high of $191.86. The business has a 50-day moving average of $163.61 and a 200-day moving average of $163.92.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is presently 34.56%.

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.