Neuberger Berman Group LLC Has $201.71 Million Stake in Nexstar Media Group Inc (NASDAQ:NXST)

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Neuberger Berman Group LLC decreased its stake in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,412,801 shares of the company’s stock after selling 22,798 shares during the quarter. Neuberger Berman Group LLC owned about 5.33% of Nexstar Media Group worth $201,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in Nexstar Media Group by 14.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,817 shares of the company’s stock valued at $336,000 after purchasing an additional 743 shares during the period. BlackRock Inc. grew its position in Nexstar Media Group by 0.5% in the 1st quarter. BlackRock Inc. now owns 2,031,657 shares of the company’s stock valued at $117,287,000 after purchasing an additional 9,208 shares during the period. SG Americas Securities LLC grew its position in Nexstar Media Group by 434.0% in the 1st quarter. SG Americas Securities LLC now owns 9,275 shares of the company’s stock valued at $535,000 after purchasing an additional 7,538 shares during the period. Aperio Group LLC grew its position in Nexstar Media Group by 4.7% in the 1st quarter. Aperio Group LLC now owns 15,931 shares of the company’s stock valued at $920,000 after purchasing an additional 711 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in Nexstar Media Group by 6.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 45,053 shares of the company’s stock valued at $2,601,000 after purchasing an additional 2,626 shares during the period.

Nexstar Media Group stock traded up $2.95 during midday trading on Wednesday, reaching $101.67. The stock had a trading volume of 14,509 shares, compared to its average volume of 604,240. Nexstar Media Group Inc has a 12 month low of $43.37 and a 12 month high of $133.25. The firm’s 50-day moving average price is $91.83 and its 200 day moving average price is $81.42. The firm has a market capitalization of $4.47 billion, a PE ratio of 12.89, a P/E/G ratio of 0.67 and a beta of 1.79. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.62.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.85. The business had revenue of $914.63 million for the quarter, compared to analysts’ expectations of $906.25 million. Nexstar Media Group had a return on equity of 19.13% and a net margin of 9.65%. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. Equities research analysts expect that Nexstar Media Group Inc will post 14.38 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.56 dividend. The ex-dividend date was Thursday, August 6th. This represents a $2.24 dividend on an annualized basis and a yield of 2.20%. Nexstar Media Group’s payout ratio is 44.44%.

Several equities analysts have weighed in on NXST shares. Wells Fargo & Company raised their price objective on Nexstar Media Group from $88.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. TheStreet upgraded Nexstar Media Group from a “c+” rating to a “b-” rating in a research note on Thursday, June 4th. Benchmark raised their price objective on Nexstar Media Group from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. B. Riley raised their price objective on Nexstar Media Group from $115.00 to $122.00 in a research note on Thursday, August 6th. Finally, BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $111.17.

In other Nexstar Media Group news, Director Lisbeth Mcnabb sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $94.03, for a total value of $282,090.00. Following the completion of the sale, the director now owns 4,600 shares in the company, valued at $432,538. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.70% of the company’s stock.

About Nexstar Media Group

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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