Genesee Capital Advisors LLC Increases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Genesee Capital Advisors LLC raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,302 shares of the company’s stock after buying an additional 408 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Nexstar Media Group were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Nexstar Media Group during the 3rd quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in shares of Nexstar Media Group in the third quarter valued at $30,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Nexstar Media Group in the third quarter valued at $33,000. Capital Performance Advisors LLP purchased a new position in shares of Nexstar Media Group in the third quarter valued at $44,000. Finally, UMB Bank n.a. grew its holdings in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after purchasing an additional 159 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares in the company, valued at $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This trade represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,448 shares of company stock worth $23,828,076 over the last three months. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Stock Down 0.1 %

NASDAQ:NXST opened at $157.23 on Wednesday. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.26 and a beta of 1.45. The stock has a fifty day simple moving average of $161.57 and a 200-day simple moving average of $166.69. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.30%. Nexstar Media Group’s payout ratio is currently 39.10%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NXST shares. Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

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.