Nexstar Media Group, Inc. $NXST Stock: Valley Wealth Managers Inc. Increases Position

Valley Wealth Managers Inc. increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,946 shares of the company’s stock after acquiring an additional 3,547 shares during the period. Valley Wealth Managers Inc. owned about 0.46% of Nexstar Media Group worth $23,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NXST. Janus Henderson Group PLC boosted its position in Nexstar Media Group by 1.8% in the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock worth $116,427,000 after purchasing an additional 11,477 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Nexstar Media Group by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 488,744 shares of the company’s stock worth $88,381,000 after purchasing an additional 7,661 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Nexstar Media Group by 4.6% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 173,068 shares of the company’s stock worth $35,141,000 after buying an additional 7,624 shares during the last quarter. QVT Financial LP boosted its holdings in shares of Nexstar Media Group by 200.0% in the 4th quarter. QVT Financial LP now owns 155,281 shares of the company’s stock worth $31,530,000 after buying an additional 310,562 shares during the last quarter. Finally, Bank of America Corp DE grew its position in 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 valued at $31,332,000 after buying an additional 25,193 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, COO Michael Biard sold 2,465 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $185.82, for a total transaction of $458,046.30. Following the sale, the chief operating officer owned 20,890 shares of the company’s stock, valued at approximately $3,881,779.80. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 4,008 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $187.46, for a total value of $751,339.68. Following the sale, the insider directly owned 1,792 shares in the company, valued at $335,928.32. This trade represents a 69.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 9,596 shares of company stock valued at $1,733,169. 7.00% of the stock is owned by company insiders.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $161.45 on Friday. The firm has a market cap of $4.97 billion, a P/E ratio of 30.99 and a beta of 0.94. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.09. The company’s 50 day moving average is $174.67 and its 200-day moving average is $182.89. Nexstar Media Group, Inc. has a 12-month low of $153.17 and a 12-month high of $254.30.

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

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $1.86 dividend. The ex-dividend date was Friday, August 14th. This represents a $7.44 annualized dividend and a dividend yield of 4.6%. Nexstar Media Group’s payout ratio is 142.80%.

Nexstar Media Group Company 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.