Venturi Wealth Management LLC Grows Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Venturi Wealth Management LLC grew its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 883 shares of the company’s stock after purchasing an additional 209 shares during the period. Venturi Wealth Management LLC’s holdings in Nexstar Media Group were worth $139,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NXST. Brooklyn Investment Group acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $25,000. True Wealth Design LLC acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $30,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP acquired a new position in shares of Nexstar Media Group during the 3rd quarter worth approximately $44,000. Finally, Quarry LP raised its stake in shares of Nexstar Media Group by 111.1% during the 3rd quarter. Quarry LP now owns 627 shares of the company’s stock worth $104,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Brett Jenkins sold 4,331 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the completion of the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at $4,358,145.60. This trade represents a 14.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 35,205 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,824 shares of company stock valued at $21,093,408 in the last three months. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXST. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Finally, Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.29.

Nexstar Media Group Stock Down 3.2 %

NASDAQ NXST opened at $149.56 on Friday. The business has a fifty day moving average price of $155.72 and a 200 day moving average price of $163.63. Nexstar Media Group, Inc. has a one year low of $147.25 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $4.64 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $1.86 dividend. The ex-dividend date is Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.97%. Nexstar Media Group’s dividend payout ratio (DPR) is 43.03%.

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.