13,264 Nexstar Media Group, Inc. $NXST Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,941 shares of the company’s stock after acquiring an additional 13,264 shares during the quarter. Penn Capital Management Company LLC owned 0.33% of Nexstar Media Group worth $16,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NXST. Epoch Investment Partners Inc. lifted its position in Nexstar Media Group by 685.8% in the first quarter. Epoch Investment Partners Inc. now owns 92,817 shares of the company’s stock valued at $16,784,000 after purchasing an additional 81,005 shares during the period. Foster & Motley Inc. acquired a new position in Nexstar Media Group during the 2nd quarter worth approximately $8,529,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Nexstar Media Group during the 3rd quarter worth approximately $4,459,000. Bank of America Corp DE increased its position in Nexstar Media Group by 17.0% during the 1st quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after purchasing an additional 25,193 shares during the period. Finally, Paralel Advisors LLC purchased a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $2,285,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research cut Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wells Fargo & Company upped their price objective on Nexstar Media Group from $249.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a report on Monday, August 24th. Finally, Citigroup boosted their target price on shares of Nexstar Media Group from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.50.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Dana Zimmer sold 4,008 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider owned 1,792 shares of the company’s stock, valued at approximately $335,928.32. This represents a 69.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael Biard sold 2,465 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $185.82, for a total value of $458,046.30. Following the completion of the sale, the chief operating officer directly owned 20,890 shares in the company, valued at $3,881,779.80. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 9,596 shares of company stock valued at $1,733,169. Company insiders own 7.00% of the company’s stock.

Nexstar Media Group Trading Up 5.9%

Shares of Nexstar Media Group stock opened at $201.23 on Tuesday. Nexstar Media Group, Inc. has a 12-month low of $153.17 and a 12-month high of $254.30. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The stock has a market cap of $6.20 billion, a PE ratio of 18.31 and a beta of 0.97. The company has a 50-day moving average of $168.16 and a two-hundred day moving average of $191.70.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 5th. The company reported $7.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.08 by ($0.16). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.07 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. Nexstar Media Group’s revenue was up 78.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 earnings per share. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 67.70%.

Nexstar Media Group Company Profile

Nexstar Media Group is a U.S. media company focused on local television broadcasting and national programming. It owns and operates local television stations across the country, many affiliated with major broadcast networks, and produces local news, sports, and other programming for viewers in their communities.

The company also operates NewsNation, a national news and entertainment network, and holds a majority interest in The CW. Its digital businesses distribute news and other content online, while advertising and fees for carrying its stations and networks are among its business activities.

Founded by Perry Sook in 1996 and headquartered in Irving, Texas, Nexstar expanded its station portfolio through acquisitions, including its 2019 acquisition of Tribune Media.