Meritage Portfolio Management Grows Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Meritage Portfolio Management lifted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 24.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,492 shares of the company’s stock after purchasing an additional 885 shares during the quarter. Meritage Portfolio Management’s holdings in Nexstar Media Group were worth $704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NXST. OLD Second National Bank of Aurora acquired a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $45,000. Itau Unibanco Holding S.A. acquired a new position in shares of Nexstar Media Group in the third quarter worth $65,000. Signaturefd LLC boosted its stake in shares of Nexstar Media Group by 20.3% during the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after purchasing an additional 71 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $81,000. Finally, Huntington National Bank lifted its holdings in shares of Nexstar Media Group by 95.2% during the 3rd quarter. Huntington National Bank now owns 652 shares of the company’s stock worth $93,000 after acquiring an additional 318 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now directly owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lisbeth Mcnabb sold 3,175 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following the sale, the director now owns 5,252 shares in the company, valued at approximately $882,336. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold a total of 46,508 shares of company stock worth $7,487,950 over the last 90 days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Trading Up 0.1 %

Nexstar Media Group stock traded up $0.11 during trading hours on Friday, reaching $161.09. 106,310 shares of the company’s stock traded hands, compared to its average volume of 339,930. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.61 and a beta of 1.50. The firm’s 50 day moving average is $165.53 and its 200-day moving average is $158.95.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $8.04 earnings per share. Nexstar Media Group’s revenue was down 12.3% compared to the same quarter last year. On average, analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on NXST shares. Rosenblatt Securities lowered their target price on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.83.

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.