SummerHaven Investment Management LLC Boosts Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

SummerHaven Investment Management LLC grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,066 shares of the company’s stock after purchasing an additional 70 shares during the period. SummerHaven Investment Management LLC’s holdings in Nexstar Media Group were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NXST. OLD Second National Bank of Aurora purchased a new position in Nexstar Media Group in the 4th quarter worth about $45,000. Signaturefd LLC increased its holdings in Nexstar Media Group by 20.3% during the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Nexstar Media Group during the third quarter worth $65,000. Arlington Trust Co LLC bought a new stake in Nexstar Media Group during the 4th quarter valued at $81,000. Finally, Huntington National Bank boosted its position in Nexstar Media Group by 95.2% during the 3rd quarter. Huntington National Bank now owns 652 shares of the company’s stock valued at $93,000 after acquiring an additional 318 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NXST shares. Rosenblatt Securities decreased their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, March 7th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $193.83.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $164.75 on Tuesday. The firm has a market capitalization of $5.51 billion, a P/E ratio of 17.11, a PEG ratio of 0.59 and a beta of 1.50. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.32. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. The company has a 50 day moving average price of $164.98 and a 200 day moving average price of $159.34.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.04 earnings per share. Sell-side analysts expect that Nexstar Media Group, Inc. will post 26.73 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.10%. Nexstar Media Group’s payout ratio is presently 70.20%.

Insider Activity

In related news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the sale, the chief executive officer now owns 636,788 shares of the company’s stock, valued at $101,032,784.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lisbeth Mcnabb sold 3,175 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total value of $533,400.00. Following the sale, the director now directly owns 5,252 shares of the company’s stock, valued at approximately $882,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 31,758 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now directly owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,508 shares of company stock valued at $7,487,950. Company insiders own 5.90% of the company’s stock.

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.