Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,166 shares of the company’s stock after buying an additional 369 shares during the quarter. Assetmark Inc.’s holdings in Nexstar Media Group were worth $8,557,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NXST. Pacer Advisors Inc. raised its stake in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the period. Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $35,560,000. Payden & Rygel raised its holdings in shares of Nexstar Media Group by 40.4% in the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after buying an additional 31,700 shares during the period. World Investment Advisors LLC purchased a new stake in Nexstar Media Group during the 3rd quarter worth approximately $3,747,000. Finally, SGL Investment Advisors Inc. purchased a new position in Nexstar Media Group in the third quarter valued at approximately $3,758,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other news, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the sale, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,830 shares of company stock valued at $26,391,128. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NXST shares. Guggenheim lifted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Benchmark upped their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $177.85 on Friday. The company has a market cap of $5.52 billion, a P/E ratio of 10.29, a PEG ratio of 0.45 and a beta of 1.45. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a 50 day moving average of $156.23 and a two-hundred day moving average of $163.70.

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

Nexstar Media Group Increases Dividend

The company 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. This represents a $7.44 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s payout ratio is 34.56%.

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.