Inspire Advisors LLC Buys New Shares in Nexstar Media Group, Inc. (NASDAQ:NXST)

Inspire Advisors LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,288 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently bought and sold shares of NXST. Brooklyn Investment Group purchased a new stake in Nexstar Media Group during the third quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group during the fourth quarter worth approximately $25,000. True Wealth Design LLC purchased a new stake in Nexstar Media Group during the third quarter worth approximately $30,000. Wilmington Savings Fund Society FSB purchased a new stake in Nexstar Media Group during the third quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp grew its stake in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after buying an additional 73 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NXST shares. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim boosted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Benchmark boosted their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $208.43.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 330 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Perry A. Sook sold 52,808 shares of the company’s stock in a transaction 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 directly owns 674,694 shares in the company, valued at $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 161,455 shares of company stock valued at $26,158,403 over the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Up 0.1 %

NASDAQ NXST opened at $169.16 on Thursday. The company’s fifty day simple moving average is $157.22 and its 200-day simple moving average is $163.76. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week 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 stock has a market cap of $5.16 billion, a P/E ratio of 9.78, a PEG ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.40%. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

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.