James Investment Research Inc. Acquires New Position in Nexstar Media Group, Inc. $NXST

James Investment Research Inc. bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, Holdings Channel reports. The firm bought 2,434 shares of the company’s stock, valued at approximately $481,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in Nexstar Media Group in the 1st quarter worth $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nexstar Media Group by 49.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock valued at $2,844,000 after purchasing an additional 5,251 shares during the period. Millennium Management LLC raised its stake in shares of Nexstar Media Group by 571.4% in the first quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Nexstar Media Group by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock worth $23,802,000 after purchasing an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Nexstar Media Group during the first quarter worth about $654,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST opened at $211.97 on Tuesday. The stock has a market cap of $6.43 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.81 and a beta of 0.84. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a fifty day moving average price of $202.05 and a 200 day moving average price of $198.19. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $5.27 EPS. The company’s revenue was down 12.3% on a year-over-year basis. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NXST. Citigroup cut their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $222.38.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.