D.A. Davidson & CO. Raises Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

D.A. Davidson & CO. lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,632 shares of the company’s stock after buying an additional 340 shares during the quarter. D.A. Davidson & CO.’s holdings in Nexstar Media Group were worth $3,908,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NXST. B. Riley Wealth Advisors Inc. lifted its position in shares of Nexstar Media Group by 8.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock worth $410,000 after buying an additional 188 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after buying an additional 156 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Nexstar Media Group by 299.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,851 shares of the company’s stock worth $639,000 after buying an additional 2,886 shares during the last quarter. CWM LLC lifted its position in shares of Nexstar Media Group by 60.7% during the 2nd quarter. CWM LLC now owns 1,178 shares of the company’s stock worth $196,000 after buying an additional 445 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Nexstar Media Group by 3.0% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,704 shares of the company’s stock worth $781,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $171.15 on Friday. 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 stock has a market capitalization of $5.31 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.20 and a beta of 1.48. The company’s fifty day moving average is $169.16 and its two-hundred day moving average is $167.12. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $170.64, for a total transaction of $739,041.84. Following the transaction, the insider now directly owns 25,540 shares in the company, valued at approximately $4,358,145.60. This trade represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,423 shares of company stock valued at $7,916,739 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NXST has been the subject of several research reports. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $200.00 to $190.00 in a research report on Friday, November 8th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

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.