Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,972 shares of the company’s stock after buying an additional 5,389 shares during the period. HighTower Advisors LLC owned about 0.54% of Nexstar Media Group worth $27,322,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Nexstar Media Group by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,397,336 shares of the company’s stock worth $586,584,000 after acquiring an additional 27,714 shares in the last quarter. LSV Asset Management grew its holdings in Nexstar Media Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 1,322,815 shares of the company’s stock worth $220,315,000 after acquiring an additional 10,627 shares in the last quarter. State Street Corp grew its holdings in Nexstar Media Group by 0.5% during the 1st quarter. State Street Corp now owns 1,038,998 shares of the company’s stock worth $179,393,000 after acquiring an additional 5,325 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Nexstar Media Group by 9.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 716,393 shares of the company’s stock worth $135,026,000 after acquiring an additional 60,217 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 660,635 shares of the company’s stock valued at $110,747,000 after buying an additional 6,160 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 1.1 %

NXST stock opened at $162.72 on Friday. The company has a fifty day moving average price of $163.09 and a 200 day moving average price of $155.13. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $202.26. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.59 and a beta of 1.56. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.57 and a quick ratio of 1.57.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.83). The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Nexstar Media Group had a net margin of 8.51% and a return on equity of 20.92%. The firm’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $7.30 EPS. Sell-side analysts expect that Nexstar Media Group, Inc. will post 10.78 earnings per share for the current year.

Nexstar Media Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a dividend of $1.69 per share. The ex-dividend date is Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a yield of 4.15%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.35. Nexstar Media Group’s dividend payout ratio is presently 58.23%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NXST. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $175.00 to $167.00 and set an “equal weight” rating for the company in a report on Thursday, November 9th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, Citigroup began coverage on shares of Nexstar Media Group in a report on Friday, December 8th. They issued a “neutral” rating and a $158.00 target price for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $206.43.

Read Our Latest Report on Nexstar Media Group

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 500 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $149.57, for a total transaction of $74,785.00. Following the completion of the transaction, the director now owns 4,500 shares in the company, valued at approximately $673,065. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 500 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $149.57, for a total transaction of $74,785.00. Following the completion of the transaction, the director now owns 4,500 shares in the company, valued at approximately $673,065. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas Carter sold 6,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $161.15, for a total transaction of $966,900.00. Following the completion of the transaction, the insider now owns 85,082 shares of the company’s stock, valued at approximately $13,710,964.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,273 shares of company stock worth $5,773,808. 5.90% of the stock is owned by insiders.

Nexstar Media Group Profile

(Free Report)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

Further Reading

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

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