Concurrent Investment Advisors LLC Purchases New Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Concurrent Investment Advisors LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 4th quarter, HoldingsChannel reports. The firm acquired 1,325 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds have also made changes to their positions in NXST. Wealth Enhancement Advisory Services LLC increased its stake in Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after acquiring an additional 68 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Nexstar Media Group by 1.2% during the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after purchasing an additional 117 shares during the period. Davis Capital Management increased its position in shares of Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after purchasing an additional 122 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Nexstar Media Group by 5.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock valued at $398,000 after buying an additional 137 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Nexstar Media Group by 1.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,127 shares of the company’s stock valued at $1,600,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Guggenheim restated a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Stock Down 1.9 %

Shares of NASDAQ NXST opened at $146.34 on Thursday. The stock has a market cap of $4.54 billion, a P/E ratio of 8.46, a PEG ratio of 0.45 and a beta of 1.45. The business’s fifty day simple moving average is $154.97 and its 200-day simple moving average is $163.29. Nexstar Media Group, Inc. has a 12-month low of $146.04 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.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 5.08%. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is presently 43.03%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. The trade was a 4.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 750 shares of the 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 directly owns 6,975 shares in the company, valued at approximately $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,493 shares of company stock valued at $20,354,366. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group 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.