Farther Finance Advisors LLC Boosts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Farther Finance Advisors LLC increased its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.8% in the fourth quarter, HoldingsChannel reports. The firm owned 4,802 shares of the company’s stock after purchasing an additional 429 shares during the quarter. Farther Finance Advisors LLC’s holdings in Nexstar Media Group were worth $759,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after buying an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company’s stock valued at $174,103,000 after acquiring an additional 18,675 shares during the period. Bank of New York Mellon Corp boosted its stake in Nexstar Media Group by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company’s stock worth $63,777,000 after acquiring an additional 19,116 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group in the fourth quarter worth about $35,560,000. Finally, Bruni J V & Co. Co. increased its stake in shares of Nexstar Media Group by 0.8% during the fourth quarter. Bruni J V & Co. Co. now owns 194,568 shares of the company’s stock valued at $30,736,000 after purchasing an additional 1,568 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Gary Weitman sold 1,241 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the sale, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the transaction, the chief executive officer now directly owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 161,455 shares of company stock worth $26,158,403. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Up 0.8 %

NXST opened at $169.88 on Friday. The firm’s 50 day simple moving average is $157.81 and its two-hundred day simple moving average is $163.79. The company has a market capitalization of $5.18 billion, a PE ratio of 9.83, a PEG ratio of 0.45 and a beta of 1.47. Nexstar Media Group, Inc. has a 1-year low of $146.04 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.

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

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 4.38%. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is currently 34.56%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Guggenheim upped their price target 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 raised their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.43.

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.