Verity Asset Management Inc. Takes $250,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Verity Asset Management Inc. bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,585 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Nexstar Media Group during the third quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in Nexstar Media Group in the 3rd quarter valued at $30,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group in the 3rd quarter valued at $33,000. Capital Performance Advisors LLP bought a new position in Nexstar Media Group during the 3rd quarter worth $44,000. Finally, UMB Bank n.a. lifted its holdings in shares of Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after buying an additional 159 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 1.1 %

Shares of NASDAQ:NXST opened at $153.89 on Wednesday. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86. The company has a market capitalization of $4.77 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.25 and a beta of 1.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The company has a fifty day moving average of $160.10 and a 200-day moving average of $165.89.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a $1.86 dividend. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.83%. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is 39.10%.

Insider Activity

In other news, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction 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 sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $328,900. This represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 37,025 shares of Nexstar Media Group stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $108,045,497.16. This represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,448 shares of company stock valued at $23,828,076. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

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.