Loomis Sayles & Co. L P Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Loomis Sayles & Co. L P raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,622 shares of the company’s stock after purchasing an additional 897 shares during the quarter. Loomis Sayles & Co. L P owned 0.24% of Nexstar Media Group worth $12,339,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of Nexstar Media Group by 8.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after buying an additional 188 shares during the period. EMC Capital Management increased its stake in Nexstar Media Group by 35.8% during the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock worth $537,000 after purchasing an additional 821 shares during the period. Granite Group Advisors LLC lifted its position in shares of Nexstar Media Group by 5.1% during the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Nexstar Media Group by 299.1% in the second quarter. Harbor Capital Advisors Inc. now owns 3,851 shares of the company’s stock valued at $639,000 after purchasing an additional 2,886 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NXST opened at $170.29 on Wednesday. The stock has a 50 day moving average price of $169.07 and a 200 day moving average price of $167.11. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Analyst Ratings Changes

Several brokerages have commented on NXST. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Guggenheim reduced their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, Director John R. Muse sold 2,385 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the transaction, the director now directly owns 25,978 shares of the company’s stock, valued at approximately $4,420,416.48. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,423 shares of company stock worth $7,916,739. Corporate insiders own 6.30% of the company’s stock.

About Nexstar Media Group

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.