Navellier & Associates Inc. Has $3.03 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Navellier & Associates Inc. lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,336 shares of the company’s stock after selling 874 shares during the quarter. Navellier & Associates Inc.’s holdings in Nexstar Media Group were worth $3,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Whittier Trust Co. purchased a new position in Nexstar Media Group during the 2nd quarter worth $27,000. Allspring Global Investments Holdings LLC raised its position in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares during the period. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group in the third quarter valued at approximately $44,000. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC bought a new position in Nexstar Media Group during the second quarter valued at $49,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NXST has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the sale, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,903 shares of company stock worth $7,833,240. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Up 2.0 %

Shares of Nexstar Media Group stock opened at $166.83 on Thursday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week 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’s 50 day moving average price is $168.76 and its 200-day moving average price is $167.14.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data 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 business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. Equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued 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 4.05%. Nexstar Media Group’s dividend payout ratio (DPR) is 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.