Meritage Portfolio Management Has $761,000 Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Meritage Portfolio Management boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,603 shares of the company’s stock after purchasing an additional 406 shares during the quarter. Meritage Portfolio Management’s holdings in Nexstar Media Group were worth $761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Nexstar Media Group by 24.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,391 shares of the company’s stock worth $396,000 after acquiring an additional 474 shares during the period. Demars Financial Group LLC lifted its stake in Nexstar Media Group by 4.1% during the third quarter. Demars Financial Group LLC now owns 4,803 shares of the company’s stock worth $794,000 after purchasing an additional 190 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Nexstar Media Group during the third quarter valued at approximately $1,342,000. CWA Asset Management Group LLC bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $312,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Nexstar Media Group in the 3rd quarter worth approximately $44,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $166.04 on Monday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.19 and a beta of 1.48. Nexstar Media Group, Inc. has a 52-week low of $140.92 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The stock’s 50 day moving average price is $168.54 and its two-hundred day moving average price is $166.99.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 25.72% and a net margin of 11.39%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. On average, equities analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.07%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the sale, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock valued at $6,887,029 over the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $200.00 to $190.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

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.