Victory Capital Management Inc. Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 41.9% during the third quarter, Holdings Channel reports. The fund owned 20,571 shares of the company’s stock after purchasing an additional 6,071 shares during the period. Victory Capital Management Inc.’s holdings in Nexstar Media Group were worth $3,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NXST. CANADA LIFE ASSURANCE Co grew its holdings in shares of Nexstar Media Group by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 35,677 shares of the company’s stock worth $6,140,000 after acquiring an additional 1,055 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Nexstar Media Group by 8.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after acquiring an additional 188 shares during the period. Redwood Investment Management LLC grew its holdings in shares of Nexstar Media Group by 5.5% during the 1st quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock worth $5,425,000 after acquiring an additional 1,644 shares during the period. EMC Capital Management grew its holdings in shares of Nexstar Media Group by 35.8% during the 1st quarter. EMC Capital Management now owns 3,116 shares of the company’s stock worth $537,000 after acquiring an additional 821 shares during the period. Finally, Granite Group Advisors LLC grew its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group Stock Performance

NXST stock opened at $169.75 on Friday. The stock has a market capitalization of $5.27 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock’s 50 day simple moving average is $168.98 and its 200 day simple moving average is $167.17.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. Nexstar Media Group’s payout ratio is 39.10%.

Insider Activity

In other news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now directly owns 7,725 shares in the company, valued at $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,903 shares of company stock valued at $7,833,240 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Company 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.