Trust Point Inc. Purchases New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Trust Point Inc. acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,215 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. raised its holdings in Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares during the last quarter. Copeland Capital Management LLC raised its holdings in Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after purchasing an additional 83,829 shares during the last quarter. Payden & Rygel raised its holdings in Nexstar Media Group by 40.4% during the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after purchasing an additional 31,700 shares during the last quarter. World Investment Advisors LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth about $3,747,000. Finally, SGL Investment Advisors Inc. bought a new stake in Nexstar Media Group during the 3rd quarter worth about $3,758,000. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 37,025 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brett Jenkins sold 4,331 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the transaction, the insider now directly owns 25,540 shares of the company’s stock, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,209 shares of company stock valued at $21,499,239 in the last quarter. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

Shares of NXST opened at $153.85 on Thursday. 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 stock has a 50 day simple moving average of $159.75 and a 200 day simple moving average of $165.81. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86. The firm has a market capitalization of $4.77 billion, a PE ratio of 8.90, a P/E/G ratio of 0.25 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data 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 net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm 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. Sell-side analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The company 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 dividend of $1.86 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 4.84%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is 39.10%.

Analyst Upgrades and Downgrades

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