Davis Capital Management Has $990,000 Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Davis Capital Management increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,270 shares of the company’s stock after purchasing an additional 122 shares during the period. Davis Capital Management’s holdings in Nexstar Media Group were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional raised its position in Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company’s stock worth $231,000 after acquiring an additional 67 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after acquiring an additional 68 shares in the last quarter. Blue Trust Inc. raised its position in Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares in the last quarter. Natixis Advisors LLC raised its position in Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after acquiring an additional 117 shares in the last quarter. Finally, Quarry LP raised its position in Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXST. Guggenheim dropped their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Nexstar Media Group Trading Up 0.5 %

NXST stock opened at $153.57 on Wednesday. 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’s 50-day simple moving average is $162.30 and its 200 day simple moving average is $167.18. 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 $4.76 billion, a PE ratio of 8.88, a price-to-earnings-growth ratio of 0.25 and a beta of 1.45.

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 analysts’ consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion for 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 quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $1.69 per share. The ex-dividend date was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.40%. Nexstar Media Group’s payout ratio is 39.10%.

Insiders Place Their Bets

In other news, CEO Perry A. Sook sold 37,025 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $160.14, for a total value 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 approximately $108,045,497.16. This represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the transaction, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,448 shares of company stock worth $23,828,076 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

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.