Farther Finance Advisors LLC Boosts Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Farther Finance Advisors LLC lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,802 shares of the company’s stock after buying an additional 429 shares during the quarter. Farther Finance Advisors LLC’s holdings in Nexstar Media Group were worth $759,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NXST. Pacer Advisors Inc. lifted its stake in Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock worth $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Nexstar Media Group in the fourth quarter worth $35,560,000. Raymond James Financial Inc. bought a new stake in Nexstar Media Group during the fourth quarter valued at $8,402,000. Payden & Rygel grew its position in Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after buying an additional 31,700 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in Nexstar Media Group in the 3rd quarter worth about $3,747,000. 95.30% of the stock is currently owned by institutional investors.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 1,241 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares of the company’s stock, valued at approximately $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $106,203,582.54. The trade was a 7.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 161,455 shares of company stock worth $26,158,403 in the last three months. 6.30% of the stock is owned by insiders.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $169.88 on Friday. The firm has a fifty day simple moving average of $157.81 and a two-hundred day simple moving average of $163.79. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a market capitalization of $5.18 billion, a PE ratio of 9.83, a P/E/G ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. Research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.38%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is presently 34.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Benchmark lifted their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.43.

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.