Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,810 shares of the company’s stock after purchasing an additional 5,936 shares during the period. Kingsview Wealth Management LLC’s holdings in Nexstar Media Group were worth $8,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional grew its stake in shares of Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after purchasing an additional 68 shares in the last quarter. Blue Trust Inc. increased its holdings in Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after purchasing an additional 74 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Nexstar Media Group by 1.2% in the 3rd quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after purchasing an additional 117 shares in the last quarter. Finally, Davis Capital Management boosted its stake in shares of Nexstar Media Group by 2.0% during the 4th quarter. Davis Capital Management now owns 6,270 shares of the company’s stock valued at $990,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 330 shares of Nexstar Media Group stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total transaction of $8,312,507.28. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $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 134,209 shares of company stock valued at $21,499,239 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Trading Down 0.2 %

Shares of NASDAQ NXST opened at $151.40 on Friday. The stock’s 50 day simple moving average is $159.36 and its 200 day simple moving average is $165.71. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. 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, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS. Equities research analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Nexstar Media Group Company 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.