Tributary Capital Management LLC Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Tributary Capital Management LLC raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 46.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,324 shares of the company’s stock after buying an additional 1,377 shares during the period. Tributary Capital Management LLC’s holdings in Nexstar Media Group were worth $683,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $25,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group during the third quarter valued at approximately $44,000. Finally, Quarry LP boosted its position in shares of Nexstar Media Group by 77.8% during the second quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after acquiring an additional 130 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 750 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total transaction of $119,947.50. Following the completion of the sale, the director now owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. The trade was a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now directly owns 8,610 shares in the company, valued at approximately $1,362,360.30. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,448 shares of company stock worth $23,828,076. 6.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NXST has been the topic of a number of research reports. Guggenheim reiterated a “buy” rating on shares of Nexstar Media Group in a report on Wednesday. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $157.72 on Friday. Nexstar Media Group, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a 50-day moving average price of $161.79 and a 200-day moving average price of $166.96. The firm has a market capitalization of $4.89 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.26 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.29%. Nexstar Media Group’s payout ratio is 39.10%.

Nexstar Media Group Company Profile

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.