Foster & Motley Inc. Invests $8.53 Million in Nexstar Media Group, Inc. $NXST

Foster & Motley Inc. acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,755 shares of the company’s stock, valued at approximately $8,529,000.

A number of other institutional investors have also made changes to their positions in the stock. Plato Investment Management Ltd acquired a new position in shares of Nexstar Media Group during the second quarter worth approximately $246,000. Bank of New York Mellon Corp acquired a new position in Nexstar Media Group during the second quarter worth $27,241,000. A&I Financial Services LLC boosted its position in Nexstar Media Group by 17.6% in the second quarter. A&I Financial Services LLC now owns 3,907 shares of the company’s stock valued at $698,000 after buying an additional 585 shares in the last quarter. Gradient Investments LLC boosted its holdings in shares of Nexstar Media Group by 6.6% in the 2nd quarter. Gradient Investments LLC now owns 9,122 shares of the company’s stock worth $1,629,000 after acquiring an additional 567 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Nexstar Media Group during the second quarter worth $63,000. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company cut their price target on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Nexstar Media Group Stock Down 1.2%

Shares of NXST stock opened at $182.57 on Wednesday. Nexstar Media Group, Inc. has a 1 year low of $154.47 and a 1 year high of $254.30. The firm has a market capitalization of $5.62 billion, a P/E ratio of 35.04 and a beta of 0.91. 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 firm’s fifty day moving average price is $180.10 and its two-hundred day moving average price is $199.51.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period last year, the business earned $3.06 EPS. The business’s revenue was up 62.2% on a year-over-year basis. On average, equities analysts predict that Nexstar Media Group, Inc. will post 32.88 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 14th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 142.80%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Dana Zimmer sold 4,008 shares of Nexstar Media Group 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 completion of the transaction, the insider directly owned 1,792 shares of the company’s stock, valued at $335,928.32. The trade was a 69.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brett Jenkins sold 301 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $51,413.81. Following the completion of the transaction, the insider directly owned 28,798 shares of the company’s stock, valued at approximately $4,918,986.38. This trade represents a 1.03% decrease in their position. 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. In the last ninety days, insiders have sold 21,584 shares of company stock valued at $3,899,531. 7.00% of the stock is currently owned by insiders.

Nexstar Media Group 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.