Strs Ohio Buys 2,023 Shares of Nexstar Media Group, Inc. $NXST

Strs Ohio increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 29.7% in the second quarter, Holdings Channel reports. The institutional investor owned 8,844 shares of the company’s stock after acquiring an additional 2,023 shares during the period. Strs Ohio’s holdings in Nexstar Media Group were worth $1,530,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NXST. Impact Capital Partners LLC increased its stake in Nexstar Media Group by 2.0% in the second quarter. Impact Capital Partners LLC now owns 2,857 shares of the company’s stock worth $494,000 after purchasing an additional 55 shares during the period. Lynx Investment Advisory lifted its position in shares of Nexstar Media Group by 3.8% during the second quarter. Lynx Investment Advisory now owns 1,800 shares of the company’s stock worth $311,000 after purchasing an additional 66 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Nexstar Media Group by 7.3% during the second quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock worth $207,000 after purchasing an additional 81 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Nexstar Media Group by 6.9% during the second quarter. Drive Wealth Management LLC now owns 1,254 shares of the company’s stock worth $217,000 after purchasing an additional 81 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of Nexstar Media Group by 0.8% during the second quarter. Verdence Capital Advisors LLC now owns 11,579 shares of the company’s stock worth $2,003,000 after purchasing an additional 88 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Benchmark lifted their target price on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Barrington Research reiterated an “outperform” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Zacks Research upgraded Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.00.

Nexstar Media Group Price Performance

NXST opened at $196.32 on Thursday. The business’s 50-day moving average is $199.23 and its two-hundred day moving average is $184.88. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $5.95 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $3.54 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $1.86 per share. The ex-dividend date is Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.8%. Nexstar Media Group’s payout ratio is presently 38.63%.

Nexstar Media Group 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.