Shares of Nexstar Media Group, Inc. (NASDAQ:NXST) acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 34,331 shares of the company’s stock after acquiring an additional 944 shares during the quarter. King Luther Capital Management Corp’s holdings in Nexstar Media Group were worth $5,699,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Granite Group Advisors LLC boosted its holdings in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after buying an additional 72 shares during the period. Quadrant Capital Group LLC grew 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 purchasing an additional 86 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its position in shares of Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after buying an additional 87 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Nexstar Media Group by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Nexstar Media Group by 0.3% in the first quarter. Retirement Systems of Alabama now owns 40,479 shares of the company’s stock valued at $6,974,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s shares.

The Wall Street analyst weighs in

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company reduced 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 9. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67, according to MarketBeat.com.

Check out our latest research report on NXST

Nexstar Media Group trades down 0.8%

Shares of Nexstar Media Group stock opened at $166.40 on Friday. The firm has a market cap of $5.48 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.18 and a beta of 1.50. The company has a current ratio of 1.78, a quick ratio of 1.78, and a debt-to-equity ratio of 2.92. The company’s 50-day moving average is $169.72, and its 200-day moving average is $165.78. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27.

Nexstar Media Group (NASDAQ:NXST – Get Your Free Report ) last issued its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue was up 2.3% compared to the same quarter last year. In the same period last year, the company earned $2.64 per share. Equities research analysts estimate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently declared 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 9. This represents an annualized dividend of $6.76 and a yield of 4.06%. Nexstar Media Group’s payout ratio is currently 57.19%.

Insider activity at Nexstar Media Group

In related news, EVP Blake Russell sold 2,782 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the completion of the transaction, the executive vice president now owns 22,329 shares in the company, valued at $3,794,143.68. The transaction was disclosed in a filing with the SEC, which is available via this link. In other Nexstar Media Group news, EVP Blake Russell sold 2,782 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total transaction of $472,717.44. Following the sale, the executive vice president now directly owns 22,329 shares of the company’s stock, valued at $3,794,143.68. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,426 shares of company stock worth $5,116,478. 5.90% of shares are owned by company insiders.

About Nexstar Media Group

(Free Report)

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes compelling local and national news, sports and entertainment content across television and digital platforms in the United States. Own, operate, schedule or provide sales and other services in various markets; and provides television programming services.

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