Advisors Asset Management Inc. Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Advisors Asset Management Inc. boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 46.8% in the third quarter, HoldingsChannel reports. The fund owned 21,908 shares of the company’s stock after purchasing an additional 6,984 shares during the quarter. Advisors Asset Management Inc.’s holdings in Nexstar Media Group were worth $3,622,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Nexstar Media Group by 88.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,744 shares of the company’s stock worth $807,000 after purchasing an additional 2,225 shares in the last quarter. Vanguard Group Inc. raised its stake in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Nexstar Media Group by 41.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,857 shares of the company’s stock worth $1,526,000 after acquiring an additional 2,591 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Nexstar Media Group by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 35,677 shares of the company’s stock worth $6,140,000 after acquiring an additional 1,055 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Nexstar Media Group by 8.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after acquiring an additional 188 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 0.4 %

Shares of NASDAQ:NXST opened at $169.75 on Friday. 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, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The business has a 50 day moving average of $168.93 and a two-hundred day moving average of $167.15. The company has a market capitalization of $5.27 billion, a PE ratio of 9.77, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results 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 analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. As a group, analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is currently 39.10%.

Insider Activity

In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the transaction, the insider now directly owns 5,216 shares of the company’s stock, valued at $859,596.80. This trade represents a 58.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,903 shares of company stock worth $7,833,240 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the subject of a number of recent analyst reports. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Wells Fargo & Company cut their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued 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 price target of $198.50.

About Nexstar Media Group

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.