SGL Investment Advisors Inc. Acquires 175 Shares of Nexstar Media Group, Inc. $NXST

SGL Investment Advisors Inc. boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,335 shares of the company’s stock after buying an additional 175 shares during the period. Nexstar Media Group makes up about 2.0% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 18th largest position. SGL Investment Advisors Inc.’s holdings in Nexstar Media Group were worth $4,282,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Merit Financial Group LLC acquired a new stake in shares of Nexstar Media Group in the first quarter worth $218,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Nexstar Media Group by 13.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,862 shares of the company’s stock valued at $513,000 after purchasing an additional 344 shares during the period. UMB Bank n.a. grew its position in Nexstar Media Group by 68.6% in the 1st quarter. UMB Bank n.a. now owns 536 shares of the company’s stock worth $96,000 after purchasing an additional 218 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Nexstar Media Group by 2.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 10,412 shares of the company’s stock worth $1,866,000 after purchasing an additional 285 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Nexstar Media Group during the first quarter valued at about $17,574,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NXST shares. Zacks Research upgraded Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Guggenheim boosted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Benchmark increased their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Nexstar Media Group in a research report on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $201.88 on Tuesday. The firm has a market cap of $6.12 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The company’s 50-day moving average price is $200.60 and its two-hundred day moving average price is $179.92.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $3.54 EPS. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a yield of 3.7%. Nexstar Media Group’s dividend payout ratio is currently 38.63%.

Nexstar Media Group Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.