Northwestern Mutual Wealth Management Co. Purchases 63,261 Shares of Nexstar Media Group, Inc. $NXST

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3,648.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,995 shares of the company’s stock after buying an additional 63,261 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Nexstar Media Group were worth $13,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its stake in Nexstar Media Group by 1.7% in the fourth quarter. CWA Asset Management Group LLC now owns 3,103 shares of the company’s stock valued at $630,000 after acquiring an additional 51 shares during the period. Merit Financial Group LLC grew its stake in Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock valued at $725,000 after acquiring an additional 56 shares during the period. Truist Financial Corp grew its stake in Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after acquiring an additional 56 shares during the period. WPG Advisers LLC grew its stake in Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Nexstar Media Group by 15.7% in the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after acquiring an additional 80 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Sean Compton sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the transaction, the insider directly owned 11,252 shares in the company, valued at approximately $2,205,392. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dan Lanzano sold 237 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $196.37, for a total transaction of $46,539.69. The SEC filing for this sale provides additional information. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Stock Performance

Shares of NXST opened at $189.39 on Thursday. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group, Inc. has a twelve month low of $164.00 and a twelve month high of $254.30. The firm’s 50 day moving average price is $204.54 and its two-hundred day moving average price is $208.20. The firm has a market cap of $5.78 billion, a P/E ratio of 40.64, a PEG ratio of 0.57 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $1.86 dividend. The ex-dividend date is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. Nexstar Media Group’s dividend payout ratio (DPR) is 159.66%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NXST shares. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Benchmark cut their price target 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target 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.