Victory Capital Management Inc. Increases Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Victory Capital Management Inc. increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 41.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,571 shares of the company’s stock after purchasing an additional 6,071 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Nexstar Media Group worth $3,401,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NXST. CANADA LIFE ASSURANCE Co grew its position in shares of Nexstar Media Group by 3.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 35,677 shares of the company’s stock valued at $6,140,000 after purchasing an additional 1,055 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Nexstar Media Group by 8.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after purchasing an additional 188 shares in the last quarter. Redwood Investment Management LLC grew its position in shares of Nexstar Media Group by 5.5% in the first quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock valued at $5,425,000 after purchasing an additional 1,644 shares in the last quarter. EMC Capital Management grew its position in shares of Nexstar Media Group by 35.8% in the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $537,000 after purchasing an additional 821 shares in the last quarter. Finally, Granite Group Advisors LLC boosted its stake in Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after buying an additional 72 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The trade was a 15.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,903 shares of company stock valued at $7,833,240. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Guggenheim dropped their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Trading Up 0.4 %

Shares of NXST stock opened at $169.75 on Friday. 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 price of $168.98 and a two-hundred day moving average price of $167.17. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The firm has a market cap of $5.27 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly 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). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal 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 paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

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.