Tributary Capital Management LLC Increases Stock Position in Nexstar Media Group, Inc. $NXST

Tributary Capital Management LLC increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,684 shares of the company’s stock after buying an additional 176 shares during the period. Tributary Capital Management LLC’s holdings in Nexstar Media Group were worth $810,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Impact Capital Partners LLC lifted its holdings in Nexstar Media Group by 2.0% during the second quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock valued at $494,000 after purchasing an additional 55 shares in the last quarter. Lynx Investment Advisory lifted its holdings in Nexstar Media Group by 3.8% during the second quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock valued at $311,000 after purchasing an additional 66 shares in the last quarter. Glassy Mountain Advisors Inc. lifted its holdings in Nexstar Media Group by 0.4% during the first quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company’s stock valued at $3,674,000 after purchasing an additional 73 shares in the last quarter. Blue Trust Inc. lifted its holdings in Nexstar Media Group by 7.3% during the second quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock valued at $207,000 after purchasing an additional 81 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in Nexstar Media Group by 6.9% during the second quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock valued at $217,000 after purchasing an additional 81 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXST has been the topic of several recent analyst reports. Guggenheim increased their price objective on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Nexstar Media Group in a research note on Wednesday, October 8th. Finally, Barrington Research reissued an “outperform” rating and issued 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 one has given a Hold rating to the stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $193.99 on Thursday. The company’s 50 day simple moving average is $201.82 and its 200-day simple moving average is $181.52. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $3.54 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s dividend payout ratio is presently 38.63%.

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.