World Investment Advisors LLC Takes $3.75 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

World Investment Advisors LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,659 shares of the company’s stock, valued at approximately $3,747,000. World Investment Advisors LLC owned approximately 0.07% of Nexstar Media Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in NXST. Brooklyn Investment Group bought a new stake in shares of Nexstar Media Group during the third quarter valued at about $25,000. Whittier Trust Co. purchased a new position in Nexstar Media Group during the second quarter valued at approximately $27,000. True Wealth Design LLC bought a new stake in Nexstar Media Group during the 3rd quarter worth approximately $30,000. Allspring Global Investments Holdings LLC lifted its stake in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Nexstar Media Group in the 3rd quarter valued at $44,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Guggenheim reduced their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.29.

Insider Buying and Selling

In other news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the transaction, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,798 shares of company stock worth $7,989,464 in the last 90 days. 6.30% of the stock is owned by company insiders.

Nexstar Media Group Trading Down 0.2 %

Shares of NXST stock opened at $164.60 on Friday. The business has a 50-day moving average price of $170.11 and a two-hundred day moving average price of $167.33. Nexstar Media Group, Inc. has a 12-month low of $147.25 and a 12-month high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $5.11 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.20 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

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

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.