FourThought Financial LLC Boosts Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

FourThought Financial LLC lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,035 shares of the company’s stock after buying an additional 138 shares during the period. FourThought Financial LLC’s holdings in Nexstar Media Group were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NXST. EverSource Wealth Advisors LLC purchased a new position in shares of Nexstar Media Group in the third quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Nexstar Media Group in the first quarter worth about $26,000. Lazard Asset Management LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth about $30,000. SeaCrest Wealth Management LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth about $33,000. Finally, Ronald Blue Trust Inc. purchased a new position in shares of Nexstar Media Group in the second quarter worth about $36,000. 94.48% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of NXST opened at $164.08 on Friday. Nexstar Media Group, Inc. has a 1-year low of $151.01 and a 1-year high of $217.76. The stock has a market cap of $6.03 billion, a PE ratio of 6.64, a P/E/G ratio of 1.15 and a beta of 1.51. The firm has a 50-day simple moving average of $189.32 and a two-hundred day simple moving average of $182.16. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.81 and a quick ratio of 1.81.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 10th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, February 9th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.90. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.29%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 22.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NXST shares. Barrington Research reissued an “outperform” rating and issued a $235.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 8th. Benchmark reaffirmed a “buy” rating and set a $230.00 target price on shares of Nexstar Media Group in a research note on Monday, February 27th. Finally, StockNews.com assumed coverage on shares of Nexstar Media Group in a research note on Thursday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.00.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $170.05, for a total transaction of $170,050.00. Following the completion of the sale, the director now directly owns 5,000 shares in the company, valued at $850,250. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $170.05, for a total value of $170,050.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $850,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Compton sold 2,500 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $175.85, for a total transaction of $439,625.00. Following the completion of the transaction, the insider now owns 6,930 shares of the company’s stock, valued at approximately $1,218,640.50. The disclosure for this sale can be found here. Insiders sold a total of 5,400 shares of company stock worth $945,793 over the last three months. Insiders own 5.00% of the company’s stock.

About Nexstar Media Group

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Nexstar Media Group, Inc is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire.