Private Management Group Inc. purchased a new stake in Nexstar Media Group Inc (NASDAQ:NXST) during the 2nd quarter, HoldingsChannel reports. The fund purchased 147,908 shares of the company’s stock, valued at approximately $10,856,000.

Other institutional investors also recently made changes to their positions in the company. Windacre Partnership LLC boosted its holdings in shares of Nexstar Media Group by 102.2% in the first quarter. Windacre Partnership LLC now owns 1,515,000 shares of the company’s stock valued at $100,748,000 after acquiring an additional 765,700 shares during the period. P2 Capital Partners LLC boosted its holdings in shares of Nexstar Media Group by 59.1% in the first quarter. P2 Capital Partners LLC now owns 1,865,329 shares of the company’s stock valued at $124,044,000 after acquiring an additional 692,829 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Nexstar Media Group by 36.8% in the second quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock valued at $79,523,000 after acquiring an additional 291,197 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Nexstar Media Group by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock valued at $136,684,000 after acquiring an additional 257,729 shares during the period. Finally, Park West Asset Management LLC boosted its holdings in shares of Nexstar Media Group by 12.2% in the first quarter. Park West Asset Management LLC now owns 2,043,727 shares of the company’s stock valued at $135,908,000 after acquiring an additional 222,092 shares during the period.

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 1,400 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $80.70, for a total value of $112,980.00. Following the completion of the sale, the director now owns 1,725 shares of the company’s stock, valued at $139,207.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 1,000 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $82.30, for a total value of $82,300.00. Following the completion of the sale, the insider now directly owns 370 shares of the company’s stock, valued at approximately $30,451. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,909 shares of company stock valued at $387,314. Corporate insiders own 6.40% of the company’s stock.

Shares of NASDAQ NXST opened at $80.25 on Wednesday. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.43 and a quick ratio of 2.43. Nexstar Media Group Inc has a 1-year low of $58.10 and a 1-year high of $89.75. The firm has a market cap of $3.67 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.00 and a beta of 1.89.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, August 8th. The company reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The firm had revenue of $660.30 million during the quarter, compared to the consensus estimate of $657.92 million. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts predict that Nexstar Media Group Inc will post 8.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, August 9th. Nexstar Media Group’s dividend payout ratio is presently 37.69%.

Several research firms have recently weighed in on NXST. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Evercore ISI began coverage on Nexstar Media Group in a report on Tuesday, July 31st. They issued an “in-line” rating and a $87.00 price objective for the company. ValuEngine downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. B. Riley increased their price objective on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Finally, Noble Financial downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $90.08.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company 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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