Truvestments Capital LLC Acquires New Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Truvestments Capital LLC bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,753 shares of the company’s stock, valued at approximately $455,000.

Several other large investors also recently made changes to their positions in NXST. Dimensional Fund Advisors LP lifted its stake in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock worth $179,149,000 after purchasing an additional 7,117 shares during the period. Copeland Capital Management LLC boosted its stake 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 valued at $90,567,000 after purchasing an additional 83,829 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nexstar Media Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock valued at $69,528,000 after purchasing an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its position in shares of Nexstar Media Group by 4.7% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock valued at $33,524,000 after purchasing an additional 9,084 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST stock opened at $170.61 on Tuesday. 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 company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.20 and a beta of 1.48. The firm has a 50 day moving average of $168.98 and a two-hundred day moving average of $167.16. Nexstar Media Group, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced 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). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.96%. Nexstar Media Group’s dividend payout ratio is 39.10%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the firm’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 completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,423 shares of company stock valued at $7,916,739. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of several research reports. Deutsche Bank Aktiengesellschaft decreased their target price 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. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company cut their target price on shares of 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. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Guggenheim dropped their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

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.