Empowered Funds LLC Acquires 5,430 Shares of Nexstar Media Group, Inc. $NXST

Empowered Funds LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 21.5% in the first quarter, HoldingsChannel.com reports. The firm owned 30,687 shares of the company’s stock after buying an additional 5,430 shares during the period. Empowered Funds LLC’s holdings in Nexstar Media Group were worth $5,549,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NXST. Sentinel Dome Partners LLC acquired a new position in shares of Nexstar Media Group in the fourth quarter worth approximately $2,315,000. Geode Capital Management LLC increased its position in Nexstar Media Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after purchasing an additional 13,084 shares during the period. CPC Advisors LLC increased its position in Nexstar Media Group by 114.3% during the 1st quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock valued at $4,819,000 after purchasing an additional 14,217 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Nexstar Media Group by 3,648.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,995 shares of the company’s stock worth $13,197,000 after purchasing an additional 63,261 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Nexstar Media Group by 2,573.4% during the 4th quarter. M&T Bank Corp now owns 140,112 shares of the company’s stock worth $28,494,000 after purchasing an additional 134,871 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NXST shares. Benchmark reduced their price objective on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Zacks Research cut shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $259.67.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $190.53 on Friday. Nexstar Media Group, Inc. has a twelve month low of $154.47 and a twelve month high of $254.30. The stock’s 50 day moving average is $178.62 and its 200-day moving average is $201.60. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 0.51 and a beta of 0.91.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, EVP Blake Russell sold 261 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $44,581.41. Following the transaction, the executive vice president directly owned 28,296 shares of the company’s stock, valued at approximately $4,833,239.76. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 301 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total transaction of $51,413.81. Following the transaction, the insider owned 28,798 shares of the company’s stock, valued at $4,918,986.38. This represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

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.