Nexstar Media Group, Inc. $NXST Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 643,864 shares of the company’s stock after buying an additional 11,477 shares during the quarter. Janus Henderson Group PLC’s holdings in Nexstar Media Group were worth $116,427,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its position in Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company’s stock worth $725,000 after acquiring an additional 56 shares during the period. Truist Financial Corp raised its position in Nexstar Media Group by 5.2% in the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company’s stock valued at $231,000 after purchasing an additional 56 shares during the period. WPG Advisers LLC raised its position in Nexstar Media Group by 65.7% in the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after purchasing an additional 80 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Nexstar Media Group by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the company’s stock valued at $604,000 after purchasing an additional 93 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Down 1.0%

NXST opened at $190.53 on Friday. Nexstar Media Group, Inc. has a 52 week low of $154.47 and a 52 week high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The business has a fifty day simple moving average of $178.62 and a 200-day simple moving average of $201.60. The firm has a market cap of $5.82 billion, a P/E ratio of 40.89, a P/E/G ratio of 0.51 and a beta of 0.91.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NXST. Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Benchmark lowered their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Barrington Research reiterated an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $259.67.

Insider Activity

In related news, COO Michael Biard sold 1,227 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $174.21, for a total transaction of $213,755.67. Following the completion of the transaction, the chief operating officer directly owned 17,105 shares in the company, valued at $2,979,862.05. This trade represents a 6.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Perry A. Sook bought 12,235 shares of the company’s stock in a transaction on Friday, June 26th. The stock was purchased at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the transaction, the chief executive officer owned 899,044 shares in the company, valued at $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 22,813 shares of company stock worth $4,174,731 in the last quarter. Insiders own 7.00% of the company’s stock.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.