Trust Point Inc. Takes $350,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Trust Point Inc. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,215 shares of the company’s stock, valued at approximately $350,000.

A number of other institutional investors also recently modified their holdings of the company. Clear Creek Financial Management LLC raised its position in shares of Nexstar Media Group by 13.0% in the fourth quarter. Clear Creek Financial Management LLC now owns 2,367 shares of the company’s stock valued at $374,000 after purchasing an additional 273 shares during the period. EMC Capital Management grew its stake in shares of Nexstar Media Group by 10.1% in the fourth quarter. EMC Capital Management now owns 3,116 shares of the company’s stock worth $492,000 after acquiring an additional 285 shares during the last quarter. Genesee Capital Advisors LLC grew its stake in shares of Nexstar Media Group by 14.1% in the fourth quarter. Genesee Capital Advisors LLC now owns 3,302 shares of the company’s stock worth $522,000 after acquiring an additional 408 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of 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 worth $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Nexstar Media Group by 1,801.8% in the fourth quarter. KBC Group NV now owns 17,230 shares of the company’s stock worth $2,722,000 after acquiring an additional 16,324 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.0 %

NXST opened at $153.85 on Thursday. Nexstar Media Group, Inc. has a fifty-two week low of $147.25 and a fifty-two week high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm’s fifty day moving average price is $159.75 and its two-hundred day moving average price is $165.81. The company has a market capitalization of $4.77 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.25 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is currently 39.10%.

Insider Activity

In related news, insider Brett Jenkins sold 4,331 shares of Nexstar Media Group stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the transaction, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. The trade was a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John R. Muse sold 2,385 shares of Nexstar Media Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $170.16, for a total value of $405,831.60. Following the completion of the transaction, the director now directly owns 25,978 shares of the company’s stock, valued at $4,420,416.48. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,209 shares of company stock worth $21,499,239. Corporate insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NXST. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $204.29.

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.