NewEdge Advisors LLC Purchases 8,913 Shares of Nexstar Media Group, Inc. $NXST

NewEdge Advisors LLC boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7,750.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,028 shares of the company’s stock after purchasing an additional 8,913 shares during the quarter. NewEdge Advisors LLC’s holdings in Nexstar Media Group were worth $1,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Western Wealth Management LLC purchased a new position in Nexstar Media Group in the first quarter worth about $1,229,000. Bank of America Corp DE grew its holdings in shares of 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 last quarter. Janus Henderson Group PLC grew its holdings in shares of Nexstar Media Group by 1.8% during the first quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after buying an additional 11,477 shares during the last quarter. Strategic Investment Advisors MI bought a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $154,000. Finally, Amundi increased its position in shares of Nexstar Media Group by 120.0% during the first quarter. Amundi now owns 5,130 shares of the company’s stock valued at $928,000 after acquiring an additional 2,798 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook acquired 12,235 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the acquisition, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at approximately $145,878,879.44. The trade was a 1.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the insider owned 11,252 shares of the company’s stock, valued at approximately $2,205,392. This trade represents a 30.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,813 shares of company stock worth $4,174,731. Company insiders own 7.00% of the company’s stock.

Nexstar Media Group Stock Up 0.5%

Shares of Nexstar Media Group stock opened at $189.57 on Friday. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 0.58 and a beta of 0.91. The company’s 50 day moving average is $179.90 and its 200 day moving average is $199.95. Nexstar Media Group, Inc. has a twelve month low of $154.47 and a twelve month high of $254.30. The company has a quick ratio of 1.76, a current ratio of 1.56 and a debt-to-equity ratio of 5.09.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%.The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the business posted $3.06 EPS. The company’s revenue for the quarter was up 62.2% compared to the same quarter last year. Research analysts anticipate that Nexstar Media Group, Inc. will post 32.88 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Nexstar Media Group’s dividend payout ratio is presently 142.80%.

Wall Street Analyst Weigh In

NXST has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Wells Fargo & Company reduced their target price on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $259.00.

Nexstar Media Group Profile

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.