Choreo LLC Purchases New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Choreo LLC acquired a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,698 shares of the company’s stock, valued at approximately $781,000.

Several other institutional investors have also added to or reduced their stakes in NXST. Quadrant Capital Group LLC raised its stake in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Nexstar Media Group by 7.1% during the 4th quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after acquiring an additional 202 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Nexstar Media Group in the 4th quarter worth approximately $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Nexstar Media Group in the 1st quarter valued at approximately $2,111,000. Finally, Vanguard Group Inc. boosted its position in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, August 9th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Buy” and an average price target of $201.67.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $166.97 on Friday. The firm has a market cap of $5.39 billion, a P/E ratio of 14.13, a PEG ratio of 0.18 and a beta of 1.49. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. The company has a 50 day moving average of $170.01 and a 200 day moving average of $165.61.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $2.64 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.05%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Insiders Place Their Bets

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 7,975 shares in the company, valued at $1,276,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Lee Ann Gliha sold 747 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $111,362.76. Following the completion of the transaction, the chief financial officer now owns 6,591 shares of the company’s stock, valued at approximately $982,586.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the director now owns 7,975 shares of the company’s stock, valued at approximately $1,276,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,436 shares of company stock worth $2,871,152. Company insiders own 5.90% of the company’s stock.

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.