Corient Private Wealth LLC Takes Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Corient Private Wealth LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,624 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vestcor Inc boosted its stake in shares of Nexstar Media Group by 83.5% during the fourth quarter. Vestcor Inc now owns 4,797 shares of the company’s stock worth $758,000 after buying an additional 2,183 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Nexstar Media Group by 9.8% during the fourth quarter. Farther Finance Advisors LLC now owns 4,802 shares of the company’s stock worth $759,000 after purchasing an additional 429 shares during the period. Sequoia Financial Advisors LLC grew its position in Nexstar Media Group by 8.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,173 shares of the company’s stock valued at $659,000 after buying an additional 339 shares during the last quarter. Inspire Advisors LLC acquired a new position in Nexstar Media Group in the 4th quarter valued at $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Nexstar Media Group by 9.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,002 shares of the company’s stock worth $1,264,000 after buying an additional 691 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NXST. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Friday, February 28th. Benchmark increased their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Guggenheim lifted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $208.43.

Insiders Place Their Bets

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the transaction, the director now owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Alford sold 3,768 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now owns 5,405 shares in the company, valued at $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,105 shares of company stock worth $6,722,463. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $179.49 on Friday. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The business’s 50 day simple moving average is $161.89 and its 200-day simple moving average is $164.49. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, equities analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

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.