Vestcor Inc Raises Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Vestcor Inc grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 83.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,797 shares of the company’s stock after buying an additional 2,183 shares during the period. Vestcor Inc’s holdings in Nexstar Media Group were worth $758,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group during the third quarter valued at approximately $33,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NXST shares. Rosenblatt Securities reissued a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday, March 10th. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Guggenheim boosted their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Benchmark boosted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Stock Performance

NXST opened at $169.88 on Monday. The firm has a market cap of $5.18 billion, a P/E ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a 1-year low of $146.04 and a 1-year high of $191.86. The company has a 50 day simple moving average of $157.81 and a two-hundred day simple moving average of $163.75. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.38%. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Insider Buying and Selling

In related news, Director Charles Thomas Mcmillen sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares in the company, valued at approximately $843,312.25. This represents a 28.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $106,203,582.54. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 161,455 shares of company stock worth $26,158,403. 6.30% of the stock is owned by insiders.

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.