Cornerstone Investment Partners LLC Has $501,000 Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cornerstone Investment Partners LLC raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,171 shares of the company’s stock after buying an additional 160 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Nexstar Media Group were worth $501,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. lifted its stake in Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares during the period. Proficio Capital Partners LLC acquired a new position in Nexstar Media Group in the fourth quarter valued at approximately $35,560,000. Payden & Rygel lifted its stake in Nexstar Media Group by 40.4% in the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after buying an additional 31,700 shares during the period. World Investment Advisors LLC acquired a new position in Nexstar Media Group in the third quarter valued at approximately $3,747,000. Finally, SGL Investment Advisors Inc. acquired a new position in Nexstar Media Group in the third quarter valued at approximately $3,758,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NXST shares. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, February 27th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $190.00 to $200.00 in a research report on Friday. Benchmark upped their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Guggenheim upped their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average price target of $210.29.

Nexstar Media Group Trading Up 2.3 %

Shares of Nexstar Media Group stock opened at $172.96 on Tuesday. The stock has a fifty day simple moving average of $155.29 and a 200 day simple moving average of $163.47. Nexstar Media Group, Inc. has a 12-month low of $146.04 and a 12-month high of $191.86. The company has a market capitalization of $5.37 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

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

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now owns 6,975 shares in the company, valued at $1,115,511.75. This represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,493 shares of company stock worth $20,354,366 in the last quarter. 6.30% of the stock is currently owned by company 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.