D.A. Davidson & CO. Boosts Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

D.A. Davidson & CO. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,632 shares of the company’s stock after purchasing an additional 340 shares during the period. D.A. Davidson & CO. owned 0.08% of Nexstar Media Group worth $3,908,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in Nexstar Media Group during the second quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group during the third quarter valued at $44,000. GAMMA Investing LLC lifted 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 in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in Nexstar Media Group during the second quarter valued at $49,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the transaction, the insider now owns 9,173 shares in the company, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 45,423 shares of company stock worth $7,916,739 over the last three months. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $171.15 on Friday. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The stock has a market cap of $5.31 billion, a P/E ratio of 9.90, a PEG ratio of 0.20 and a beta of 1.48. The company has a 50-day moving average price of $169.16 and a 200 day moving average price of $167.12. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly 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 net margin of 11.39% and a return on equity of 26.03%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on NXST. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company decreased 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 note on Friday, August 9th. Finally, Guggenheim decreased their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group 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.