Sunbelt Securities Inc. Buys 307 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sunbelt Securities Inc. grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 39.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092 shares of the company’s stock after purchasing an additional 307 shares during the period. Sunbelt Securities Inc.’s holdings in Nexstar Media Group were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. CX Institutional lifted its position in Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock worth $231,000 after buying an additional 67 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Nexstar Media Group by 7.3% in the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after buying an additional 74 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after buying an additional 87 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Nexstar Media Group by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after buying an additional 96 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after acquiring an additional 117 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Guggenheim cut their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $164.60 on Friday. 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 capitalization of $5.11 billion, a PE ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45. The firm has a 50 day moving average of $170.11 and a 200-day moving average of $167.39. 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 data 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). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.11%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Insider Activity

In related news, Director Bernadette S. Aulestia sold 500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total value of $82,225.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $328,900. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the transaction, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,798 shares of company stock valued at $7,989,464 over the last quarter. 6.30% of the stock is owned by company insiders.

About Nexstar Media Group

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.