Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,491 shares of the company’s stock after buying an additional 403 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Nexstar Media Group were worth $2,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC grew its position in Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company’s stock valued at $55,000 after purchasing an additional 274 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Nexstar Media Group by 62.3% in the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock worth $72,000 after acquiring an additional 154 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Nexstar Media Group by 2,126.3% during the first quarter. Versant Capital Management Inc now owns 423 shares of the company’s stock valued at $76,000 after buying an additional 404 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock worth $81,000 after acquiring an additional 295 shares during the period. Finally, UMB Bank n.a. grew its stake in Nexstar Media Group by 68.6% during the first quarter. UMB Bank n.a. now owns 536 shares of the company’s stock valued at $96,000 after acquiring an additional 218 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NXST opened at $184.07 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The stock has a market capitalization of $5.62 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The firm’s fifty day simple moving average is $173.60 and its two-hundred day simple moving average is $164.09.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.11. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm earned $5.16 EPS. The company’s revenue was down 3.9% on a year-over-year basis. As a group, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

Insider Activity

In other news, EVP Lee Ann Gliha sold 1,437 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares of the company’s stock, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sean Compton sold 1,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $190,976.64. Following the sale, the insider owned 12,096 shares in the company, valued at $2,123,210.88. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,474 shares of company stock valued at $3,666,988 in the last quarter. Company insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NXST shares. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, May 13th. Benchmark dropped their target price on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company cut their target price on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.71.

Nexstar Media Group Company 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.