Advisors Asset Management Inc. Buys 720 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Advisors Asset Management Inc. grew its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,628 shares of the company’s stock after buying an additional 720 shares during the quarter. Advisors Asset Management Inc.’s holdings in Nexstar Media Group were worth $3,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the third quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth about $25,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the third quarter worth about $30,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the third quarter worth about $33,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after purchasing an additional 73 shares during the period. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $177.38 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $146.04 and a fifty-two week high of $191.86. The company has a 50 day simple moving average of $159.13 and a two-hundred day simple moving average of $164.02. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.19%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the sale, the chief financial officer now owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now directly owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 126,250 shares of company stock valued at $20,450,616 over the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday, March 5th. Finally, Benchmark raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.43.

About Nexstar Media Group

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.