Lapides Asset Management LLC Buys Shares of 21,100 Nexstar Media Group Inc (NASDAQ:NXST)

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Lapides Asset Management LLC bought a new stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 21,100 shares of the company’s stock, valued at approximately $1,766,000.

Several other large investors also recently modified their holdings of NXST. Cutler Group LP boosted its stake in shares of Nexstar Media Group by 108.8% during the 2nd quarter. Cutler Group LP now owns 326 shares of the company’s stock valued at $27,000 after buying an additional 4,026 shares during the period. Signaturefd LLC raised its holdings in shares of Nexstar Media Group by 265.6% during the 2nd quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $28,000 after purchasing an additional 247 shares in the last quarter. Harwood Advisory Group LLC bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $57,000. Toronto Dominion Bank bought a new position in shares of Nexstar Media Group during the 1st quarter valued at $65,000. Finally, Synovus Financial Corp raised its holdings in shares of Nexstar Media Group by 30.0% during the 1st quarter. Synovus Financial Corp now owns 1,300 shares of the company’s stock valued at $75,000 after purchasing an additional 300 shares in the last quarter.

NXST has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, June 23rd. B. Riley raised their price target on shares of Nexstar Media Group from $110.00 to $115.00 in a report on Thursday, May 7th. Benchmark lifted their target price on shares of Nexstar Media Group from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. Finally, BidaskClub upgraded shares of Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $112.13.

In other news, insider Timothy C. Busch sold 3,032 shares of Nexstar Media Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $85.14, for a total transaction of $258,144.48. Following the sale, the insider now directly owns 90,759 shares in the company, valued at approximately $7,727,221.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dennis Miller sold 1,000 shares of Nexstar Media Group stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $100.57, for a total transaction of $100,570.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,657 shares of company stock worth $1,164,589. 6.70% of the stock is owned by company insiders.

Shares of NASDAQ:NXST traded down $1.65 on Friday, hitting $87.65. 311,908 shares of the company were exchanged, compared to its average volume of 299,251. The company’s 50 day moving average price is $83.98 and its two-hundred day moving average price is $88.57. Nexstar Media Group Inc has a one year low of $43.37 and a one year high of $133.25. The company has a debt-to-equity ratio of 3.78, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.65 and a beta of 1.88.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.57. Nexstar Media Group had a net margin of 9.48% and a return on equity of 18.14%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The business’s revenue was up 74.2% compared to the same quarter last year. Research analysts predict that Nexstar Media Group Inc will post 13.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, August 6th. This represents a $2.24 annualized dividend and a dividend yield of 2.56%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 44.44%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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