Price T Rowe Associates Inc. MD Increases Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Price T Rowe Associates Inc. MD boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 0.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 387,907 shares of the company’s stock after purchasing an additional 3,044 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Nexstar Media Group were worth $64,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NXST. EverSource Wealth Advisors LLC purchased a new stake in Nexstar Media Group in the third quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new stake in Nexstar Media Group in the first quarter worth about $26,000. Lazard Asset Management LLC purchased a new stake in Nexstar Media Group in the second quarter worth about $30,000. SeaCrest Wealth Management LLC purchased a new stake in Nexstar Media Group in the second quarter worth about $33,000. Finally, Ronald Blue Trust Inc. purchased a new stake in Nexstar Media Group in the second quarter worth about $36,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, COO Thomas Carter sold 1,400 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $182.92, for a total transaction of $256,088.00. Following the transaction, the chief operating officer now owns 80,052 shares in the company, valued at $14,643,111.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Thomas Carter sold 1,400 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $182.92, for a total transaction of $256,088.00. Following the transaction, the chief operating officer now owns 80,052 shares in the company, valued at $14,643,111.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Compton sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $175.85, for a total transaction of $439,625.00. Following the sale, the insider now directly owns 6,930 shares of the company’s stock, valued at $1,218,640.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,900 shares of company stock worth $865,763 over the last quarter. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Nexstar Media Group in a research note on Monday, February 27th. Barrington Research reiterated an “outperform” rating and issued a $235.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 8th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.00.

Nexstar Media Group Stock Up 0.3 %

Shares of Nexstar Media Group stock opened at $166.25 on Tuesday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 1.15 and a beta of 1.51. The company’s 50 day moving average is $190.04 and its 200 day moving average is $182.70. Nexstar Media Group, Inc. has a twelve month low of $151.01 and a twelve month high of $217.76. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 2.47.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a dividend of $1.35 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, February 9th. This represents a $5.40 dividend on an annualized basis and a yield of 3.25%. Nexstar Media Group’s dividend payout ratio is 22.36%.

Nexstar Media Group Company Profile

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Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.