Clear Creek Financial Management LLC Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Clear Creek Financial Management LLC raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,367 shares of the company’s stock after buying an additional 273 shares during the period. Clear Creek Financial Management LLC’s holdings in Nexstar Media Group were worth $374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional increased its position in Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after purchasing an additional 68 shares during the period. Blue Trust Inc. increased its position in shares of Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after purchasing an additional 117 shares during the period. Finally, Davis Capital Management boosted its holdings in shares of Nexstar Media Group by 2.0% in the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after buying an additional 122 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $153.22 on Monday. The stock has a 50-day moving average price of $160.80 and a 200 day moving average price of $166.21. The stock has a market capitalization of $4.75 billion, a P/E ratio of 8.86, a P/E/G ratio of 0.26 and a beta of 1.45. Nexstar Media Group, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.86%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 43.03%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bernadette S. Aulestia sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,448 shares of company stock valued at $23,828,076. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Company 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.