Glenmede Trust Co. NA increased its holdings in Nexstar Media Group Inc (NASDAQ:NXST) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,902 shares of the company’s stock after buying an additional 59,773 shares during the period. Glenmede Trust Co. NA owned about 1.16% of Nexstar Media Group worth $41,436,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. First Trust Advisors LP acquired a new position in shares of Nexstar Media Group during the third quarter worth $562,000. Victory Capital Management Inc. acquired a new position in shares of Nexstar Media Group during the third quarter worth $172,000. Prudential Financial Inc. increased its position in shares of Nexstar Media Group by 342.0% during the third quarter. Prudential Financial Inc. now owns 23,017 shares of the company’s stock worth $1,434,000 after purchasing an additional 17,810 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Nexstar Media Group by 17.2% during the third quarter. Alps Advisors Inc. now owns 8,001 shares of the company’s stock valued at $498,000 after buying an additional 1,175 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Nexstar Media Group by 1.5% during the third quarter. Rhumbline Advisers now owns 52,910 shares of the company’s stock valued at $3,296,000 after buying an additional 776 shares during the last quarter.
NXST has been the topic of a number of research analyst reports. Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a report on Thursday, December 21st. BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Royal Bank of Canada reissued a “buy” rating and set a $95.00 price objective on shares of Nexstar Media Group in a report on Thursday, January 4th. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, January 30th. Finally, Benchmark reissued a “buy” rating and set a $94.00 price objective on shares of Nexstar Media Group in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $87.67.
Shares of Nexstar Media Group stock opened at $70.05 on Monday. Nexstar Media Group Inc has a 1-year low of $55.95 and a 1-year high of $82.95. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $3,229.96, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.67 and a beta of 1.82.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.38 by $0.23. Nexstar Media Group had a net margin of 19.53% and a return on equity of 14.44%. The company had revenue of $653.66 million for the quarter, compared to analyst estimates of $645.98 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 110.9% on a year-over-year basis. equities research analysts anticipate that Nexstar Media Group Inc will post 8.38 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.14%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, February 15th. Nexstar Media Group’s dividend payout ratio is presently 15.02%.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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