Harvest Fund Management Co. Ltd made a significant strategic move in the first quarter, establishing a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) by acquiring 1,218 shares valued at approximately $218,000, as detailed in its recent SEC filing. This acquisition highlights a growing interest among institutional players in the media conglomerate.
Following Harvest Fund’s lead, several other institutional investors also adjusted their stakes in Nexstar Media Group. Notably, Whipplewood Advisors LLC substantially boosted its position by 830.3%, increasing its holdings to 307 shares worth $55,000. First Horizon Advisors Inc. and Versant Capital Management Inc. also demonstrated increased confidence, raising their positions by 62.3% and an impressive 2,126.3% respectively, acquiring more shares during the same period.
Further reinforcing the institutional trend, SBI Securities Co. Ltd. expanded its ownership by 186.7%, now holding 453 shares, while UMB Bank n.a. increased its stake by 68.6% to 536 shares. These collective movements underscore a widespread institutional interest, with a significant 95.30% of Nexstar Media Group’s stock currently owned by hedge funds and other large-scale investors, indicating strong professional backing.
Equity analysts have closely monitored Nexstar Media Group, issuing various reports on the stock’s outlook. Wells Fargo & Company recently adjusted its target price from $216.00 to $200.00, maintaining an “overweight” rating. Similarly, Benchmark revised its price objective to $215.00 from $225.00, affirming a “buy” rating. Barrington Research also reiterated an “outperform” rating with a $200.00 price objective, contributing to a consensus “Moderate Buy” rating and an average target price of $205.71 based on MarketBeat data.
Analyzing its market performance, Nexstar Media Group’s stock opened at $187.59 recently, with its 50-day moving average price at $176.28 and the 200-day average at $165.92, reflecting upward momentum. Over the past twelve months, the stock has traded within a range of $141.66 to $192.36. The company currently boasts a robust market capitalization of $5.72 billion, alongside a P/E ratio of 9.50, a price-to-earnings-growth ratio of 1.39, and a beta of 1.04, indicating its valuation and market sensitivity.
From a financial health perspective, Nexstar Media Group maintains a current ratio of 1.74, a quick ratio of 1.74, and a debt-to-equity ratio of 2.86. The company’s recent earnings results for the first quarter were strong, reporting $3.37 earnings per share (EPS), surpassing analysts’ consensus estimates of $3.26 by $0.11. Despite a slight 3.9% revenue decrease compared to the prior year, the firm achieved $1.23 billion in revenue, aligning with consensus expectations and demonstrating effective operational management.
Further highlighting its financial position, Nexstar Media Group reported a net margin of 12.21% and a return on equity of 29.21%. In a move favorable to shareholders, the company recently announced a quarterly dividend of $1.86 per share, paid on June 2nd, with an ex-dividend date of May 19th. This equates to an annualized dividend of $7.44 and a yield of 3.97%, alongside a payout ratio of 37.69%, showcasing its commitment to shareholder returns.
Insider trading activity also provided insights into the company’s dynamics. Recent disclosures revealed sales by an insider totaling 510 shares at an average price of $165.25, amounting to $84,277.50, slightly reducing their ownership. Another insider sale of 610 shares for $100,802.50 was also reported. In total, insiders have sold 21,474 shares valued at $3,666,988 in the last quarter, with insiders collectively owning 6.70% of the company’s stock.
Nexstar Media Group, Inc. operates as a diversified media company, actively producing and distributing engaging local and national news, sports, and entertainment content across various television and digital platforms throughout the United States. The company’s comprehensive operations include owning, operating, programming, and providing sales and other services to numerous markets, solidifying its position within the competitive media landscape.
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