Evergreen Wealth Management LLC Purchases Shares of 15,938 Nexstar Media Group, Inc. (NASDAQ:NXST)

Evergreen Wealth Management LLC acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,938 shares of the company’s stock, valued at approximately $2,635,000. Nexstar Media Group makes up 1.6% of Evergreen Wealth Management LLC’s portfolio, making the stock its 25th largest position.

A number of other hedge funds have also recently made changes to their positions in NXST. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $92,323,000. Vanguard Group Inc. increased its holdings in shares of Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares during the period. Payden & Rygel Investment Group acquired a new position in Nexstar Media Group during the first quarter valued at $15,144,000. Copeland Capital Management LLC boosted its holdings in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Nexstar Media Group by 72.0% during the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after purchasing an additional 83,637 shares during the period. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 1.6 %

NXST traded down $2.62 on Friday, hitting $161.84. The company had a trading volume of 429,462 shares, compared to its average volume of 329,771. The company’s fifty day moving average price is $168.62 and its 200 day moving average price is $167.09. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $5.02 billion, a P/E ratio of 9.36, a PEG ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Activity at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the director now directly owns 7,975 shares in the company, valued at approximately $1,276,000. This trade represents a 11.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,437 shares of company stock worth $8,429,561 in the last three months. 6.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reduced their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.50.

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.