King Luther Capital Management Corp Grows Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

King Luther Capital Management Corp boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,331 shares of the company’s stock after acquiring an additional 944 shares during the period. King Luther Capital Management Corp owned about 0.10% of Nexstar Media Group worth $5,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the 2nd quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after acquiring an additional 177 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the period. Quadrant Capital Group LLC grew its stake in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In related news, EVP Blake Russell sold 2,782 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the sale, the executive vice president now owns 22,329 shares of the company’s stock, valued at approximately $3,794,143.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Lee Ann Gliha sold 984 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Blake Russell sold 2,782 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the sale, the executive vice president now directly owns 22,329 shares of the company’s stock, valued at $3,794,143.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,426 shares of company stock valued at $5,116,478. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of research analyst reports. Wells Fargo & Company decreased 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 report on Friday, August 9th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.67.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $166.40 on Friday. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.27. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The firm’s fifty day moving average price is $169.72 and its 200 day moving average price is $165.78.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $2.64 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s payout ratio is currently 57.19%.

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.