Cambridge Investment Research Advisors Inc. Grows Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cambridge Investment Research Advisors Inc. grew its position in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,484 shares of the company’s stock after purchasing an additional 624 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Nexstar Media Group were worth $6,180,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NXST. Sanctuary Advisors LLC purchased a new position in Nexstar Media Group in the fourth quarter valued at approximately $809,000. Ieq Capital LLC grew its stake in Nexstar Media Group by 63.5% during the fourth quarter. Ieq Capital LLC now owns 2,887 shares of the company’s stock worth $456,000 after buying an additional 1,121 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of Nexstar Media Group in the fourth quarter worth $209,000. Bank of New York Mellon Corp raised its stake in shares of Nexstar Media Group by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company’s stock valued at $63,777,000 after acquiring an additional 19,116 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Nexstar Media Group by 37.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,117 shares of the company’s stock valued at $650,000 after acquiring an additional 1,111 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on NXST shares. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Guggenheim upped their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on Nexstar Media Group from $216.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Get Our Latest Report on NXST

Nexstar Media Group Trading Up 1.5%

Nexstar Media Group stock opened at $173.28 on Friday. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market capitalization of $5.29 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The firm has a 50 day simple moving average of $165.12 and a 200-day simple moving average of $162.12.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $5.16 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Monday, May 19th. Nexstar Media Group’s payout ratio is currently 37.69%.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 510 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the sale, the insider now directly owns 8,229 shares in the company, valued at approximately $1,359,842.25. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Alford sold 838 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $147,094.14. Following the completion of the transaction, the insider now owns 7,067 shares in the company, valued at approximately $1,240,470.51. This trade represents a 10.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is owned by corporate insiders.

Nexstar Media Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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