Tributary Capital Management LLC increased its position in shares of Nexstar Media Group Inc (NASDAQ:NXST) by 12.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 317,456 shares of the company’s stock after buying an additional 35,589 shares during the quarter. Nexstar Media Group accounts for about 2.5% of Tributary Capital Management LLC’s portfolio, making the stock its biggest holding. Tributary Capital Management LLC owned about 0.69% of Nexstar Media Group worth $34,403,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Polianta Ltd acquired a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $1,950,000. American National Bank lifted its position in shares of Nexstar Media Group by 3.4% in the fourth quarter. American National Bank now owns 35,516 shares of the company’s stock valued at $2,793,000 after buying an additional 1,182 shares during the last quarter. Boston Advisors LLC lifted its position in shares of Nexstar Media Group by 7.3% in the fourth quarter. Boston Advisors LLC now owns 87,277 shares of the company’s stock valued at $6,863,000 after buying an additional 5,922 shares during the last quarter. Jefferies Group LLC acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $299,000. Finally, MetLife Investment Advisors LLC lifted its position in shares of Nexstar Media Group by 55.1% in the third quarter. MetLife Investment Advisors LLC now owns 30,843 shares of the company’s stock valued at $2,511,000 after buying an additional 10,962 shares during the last quarter.
A number of analysts have recently issued reports on NXST shares. Royal Bank of Canada raised their price objective on Nexstar Media Group to $112.00 and gave the company an “outperform” rating in a research report on Friday, January 11th. ValuEngine raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Barrington Research reissued a “buy” rating and set a $110.00 price target on shares of Nexstar Media Group in a report on Tuesday, February 26th. BidaskClub cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. Finally, B. Riley lifted their price target on Nexstar Media Group from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $109.50.
Shares of NASDAQ NXST opened at $110.41 on Friday. Nexstar Media Group Inc has a fifty-two week low of $62.25 and a fifty-two week high of $119.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.67 and a beta of 1.58.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.08% and a return on equity of 23.72%. The business had revenue of $626.65 million during the quarter, compared to the consensus estimate of $640.35 million. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Nexstar Media Group Inc will post 6.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.63%. Nexstar Media Group’s payout ratio is 21.08%.
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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