AdvisorNet Financial Inc. reduced its holdings of shares in Nexstar Media Group, Inc. (NASDAQ: NXST – Get a rating) by 96.0% in the first quarter, HoldingsChannel reports. The institutional investor held 220 shares of the company after selling 5,332 shares during the quarter. AdvisorNet Financial Inc.’s holdings in Nexstar Media Group were worth $41,000 at the end of the most recent period.
A number of other large investors also changed their holdings in NXST. First Financial Corp IN acquired a new position in Nexstar Media Group in Q1 worth approximately $41,000. DekaBank Deutsche Girozentrale acquired a new position in Nexstar Media Group in Q4 worth approximately $59,000. UMB Bank NA MO acquired a new position in Nexstar Media Group in Q4 worth approximately $72,000. Signaturefd LLC increased its stake in Nexstar Media Group by 21.7% in the 4th quarter. Signaturefd LLC now owns 616 shares of the company worth $93,000 after purchasing an additional 110 shares during the period. Finally, McIlrath & Eck LLC increased its stake in Nexstar Media Group by 30.5% in the 4th quarter. McIlrath & Eck LLC now owns 624 shares of the company worth $94,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 96.00% of the company’s shares.
In related news, the director Dennis Miller sold 4,989 shares of the company in a trade on Thursday, June 9. The shares were sold at an average price of $172.33, for a total value of $859,754.37. As a result of the transaction, the administrator now directly owns 1,625 shares of the company, valued at approximately $280,036.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, insider Gary Weitman sold 3,202 shares of the company in a trade on Tuesday, June 28. The shares were sold at an average price of $168.20, for a total transaction of $538,576.40. Following the completion of the transaction, the insider now owns 2,783 shares of the company, valued at $468,100.60. Disclosure of this sale can be found here. Insiders sold a total of 12,960 shares of the company worth $2,233,523 in the past 90 days. 6.90% of the shares are held by insiders.
Nexstar Media Group Action opened at $168.53 on Friday. The company has a market capitalization of $6.81 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.63 and a beta of 1.53. The company’s fifty-day simple moving average is $166.95 and its 200-day simple moving average is $169.61. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt ratio of 2.47. Nexstar Media Group, Inc. has a 1-year low of $135.87 and a 1-year high of $192.84.
Nexstar Media Group (NASDAQ: NXST – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share of $5.99 for the quarter, beating consensus analyst estimates of $4.33 from $1.66. The company posted revenue of $1.21 billion for the quarter, versus a consensus estimate of $1.19 billion. Nexstar Media Group achieved a net margin of 18.66% and a return on equity of 32.08%. Nexstar Media Group’s revenue for the quarter increased 6.9% year-over-year. In the same quarter last year, the company achieved EPS of $4.42. On average, stock research analysts expect Nexstar Media Group, Inc. to post 25.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.90 per share. The ex-dividend date was Thursday, May 12. This represents a dividend of $3.60 on an annualized basis and a dividend yield of 2.14%. Nexstar Media Group’s dividend payout ratio is currently 17.48%.
A number of stock analysts have recently commented on NXST shares. StockNews.com upgraded Nexstar Media Group shares from a “hold” rating to a “buy” rating in a Thursday, May 12 research note. Deutsche Bank Aktiengesellschaft raised its price target on Nexstar Media Group shares from $216.00 to $225.00 in a Thursday, May 12 research report. Rosenblatt Securities raised its target price on Nexstar Media Group stock to $181.00 and gave the stock an “na” rating in a Monday, May 16 research report. Finally, Guggenheim raised its target price on Nexstar Media Group shares from $210.00 to $220.00 in a Wednesday, May 11 research report. Five investment analysts have rated the stock with a buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $210.57.
Nexstar Media Group Company Profile (Get a rating)
Nexstar Media Group, Inc, a television broadcasting and digital media company, is focused 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 viewers.
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