Valley Wealth Managers Inc. Purchases 3,547 Shares of Nexstar Media Group, Inc. $NXST

Valley Wealth Managers Inc. lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,946 shares of the company’s stock after purchasing an additional 3,547 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Nexstar Media Group were worth $23,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. QVT Financial LP boosted its stake in Nexstar Media Group by 200.0% during the fourth quarter. QVT Financial LP now owns 155,281 shares of the company’s stock valued at $31,530,000 after buying an additional 310,562 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Nexstar Media Group by 685.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 92,817 shares of the company’s stock valued at $16,784,000 after acquiring an additional 81,005 shares during the last quarter. Foster & Motley Inc. bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $8,529,000. SG Americas Securities LLC grew its holdings in shares of Nexstar Media Group by 1,272.0% during the first quarter. SG Americas Securities LLC now owns 51,367 shares of the company’s stock worth $9,289,000 after purchasing an additional 47,623 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Nexstar Media Group by 17.0% during the first quarter. Bank of America Corp DE now owns 173,269 shares of the company’s stock worth $31,332,000 after purchasing an additional 25,193 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

NXST has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Wall Street Zen cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Zacks Research downgraded shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $256.50.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Andrew Alford sold 2,823 shares of Nexstar Media Group stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $165.69, for a total value of $467,742.87. Following the transaction, the insider owned 11,726 shares in the company, valued at $1,942,880.94. This trade represents a 19.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bernadette Aulestia sold 300 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the completion of the sale, the director directly owned 4,383 shares of the company’s stock, valued at $818,744.40. This represents a 6.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,596 shares of company stock worth $1,733,169 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $161.45 on Friday. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 30.99 and a beta of 0.94. The business has a 50 day moving average of $174.67 and a 200 day moving average of $182.89. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. Nexstar Media Group, Inc. has a 1-year low of $153.17 and a 1-year high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The firm’s revenue was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.06 earnings per share. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $7.44 annualized dividend and a dividend yield of 4.6%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 142.80%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified media company that owns and operates local television stations across the United States. Its stations provide local news, weather, sports, and entertainment programming, while also distributing content through digital platforms and connected television services.

The company also operates national media businesses, including NewsNation, a national cable news network, and The CW Network, which offers scripted programming, sports, and other entertainment content.