Nexstar Media Group, Inc. $NXST Stock Position Lifted by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,668 shares of the company’s stock after buying an additional 3,567 shares during the period. Nexstar Media Group accounts for 1.7% of Penn Capital Management Company LLC’s portfolio, making the stock its 5th biggest holding. Penn Capital Management Company LLC owned 0.34% of Nexstar Media Group worth $21,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Nexstar Media Group during the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $28,000. Root Financial Partners LLC purchased a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $31,000. WPG Advisers LLC lifted its position in shares of Nexstar Media Group by 65.7% during the 4th quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its position in shares of Nexstar Media Group by 164.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXST has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Zacks Research raised Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Benchmark lowered their price objective on Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $252.00 to $220.00 in a research report on Friday, April 10th. Finally, Wells Fargo & Company lowered their price target on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and an average target price of $259.67.

Insider Buying and Selling

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

Nexstar Media Group Stock Down 0.3%

NASDAQ NXST opened at $188.03 on Wednesday. The stock’s 50 day moving average is $200.38 and its 200 day moving average is $207.99. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a 12 month low of $164.00 and a 12 month high of $254.30. The stock has a market cap of $5.74 billion, a PE ratio of 40.35, a P/E/G ratio of 0.48 and a beta of 0.97.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.0%. Nexstar Media Group’s payout ratio is currently 159.66%.

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.