Drive Wealth Management LLC Purchases New Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Drive Wealth Management LLC purchased a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,320 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Nexstar Media Group by 67.8% during the third quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company’s stock valued at $4,339,000 after buying an additional 10,603 shares during the last quarter. SGL Investment Advisors Inc. bought a new position in Nexstar Media Group during the third quarter valued at approximately $3,758,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Nexstar Media Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after purchasing an additional 7,117 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Nexstar Media Group by 661.4% in the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after purchasing an additional 7,533 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Nexstar Media Group by 680.9% in the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company’s stock valued at $2,847,000 after purchasing an additional 15,014 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Brett Jenkins sold 4,331 shares of Nexstar Media Group 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 52,808 shares of Nexstar Media Group stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $157.41, for a total value of $8,312,507.28. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $106,203,582.54. This represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,448 shares of company stock worth $23,828,076 in the last ninety days. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NXST has been the subject of several analyst reports. Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $157.42 on Tuesday. The stock has a 50 day moving average price of $161.70 and a 200 day moving average price of $166.81. The firm has a market capitalization of $4.88 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.26 and a beta of 1.45. Nexstar Media Group, Inc. has a 52-week low of $147.25 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.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.29%. Nexstar Media Group’s payout ratio is currently 39.10%.

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.