Klein Pavlis & Peasley Financial Inc. Grows Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Klein Pavlis & Peasley Financial Inc. lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,903 shares of the company’s stock after buying an additional 87 shares during the period. Nexstar Media Group makes up 2.0% of Klein Pavlis & Peasley Financial Inc.’s holdings, making the stock its 17th biggest position. Klein Pavlis & Peasley Financial Inc.’s holdings in Nexstar Media Group were worth $2,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust purchased a new position in Nexstar Media Group during the fourth quarter worth approximately $33,000. SRS Capital Advisors Inc. boosted its stake in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after buying an additional 186 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gary Weitman sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $84,480.00. Following the sale, the insider now directly owns 11,687 shares of the company’s stock, valued at approximately $1,869,920. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John R. Muse sold 365 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $58,400.00. Following the completion of the transaction, the director now owns 27,613 shares in the company, valued at approximately $4,418,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Weitman sold 528 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $84,480.00. Following the sale, the insider now owns 11,687 shares in the company, valued at $1,869,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,934 shares of company stock valued at $2,073,427. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Down 0.8 %

Nexstar Media Group stock traded down $1.40 during trading on Tuesday, hitting $169.21. The company had a trading volume of 191,939 shares, compared to its average volume of 338,377. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s 50 day simple moving average is $168.93 and its 200-day simple moving average is $165.89. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.00%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NXST shares. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. 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, August 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.67.

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.