CWA Asset Management Group LLC Takes $312,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

CWA Asset Management Group LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,887 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Nexstar Media Group in the third quarter valued at $44,000. Olympiad Research LP purchased a new stake in shares of Nexstar Media Group in the third quarter valued at $265,000. Capital Management Corp VA lifted its holdings in shares of Nexstar Media Group by 2.7% in the third quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock valued at $26,835,000 after purchasing an additional 4,258 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Nexstar Media Group by 7.6% in the third quarter. QRG Capital Management Inc. now owns 4,532 shares of the company’s stock valued at $749,000 after purchasing an additional 322 shares in the last quarter. Finally, Glassy Mountain Advisors Inc. increased its stake in shares of Nexstar Media Group by 6.0% in the third quarter. Glassy Mountain Advisors Inc. now owns 19,931 shares of the company’s stock worth $3,296,000 after acquiring an additional 1,124 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Guggenheim dropped 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. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Wells Fargo & Company dropped 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, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Trading Down 1.7 %

Shares of NASDAQ:NXST opened at $168.18 on Wednesday. The company has a market cap of $5.43 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.19 and a beta of 1.48. The stock’s 50-day moving average is $168.57 and its 200-day moving average is $167.12. Nexstar Media Group, Inc. has a 52-week low of $140.92 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 25.72%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Insider Activity

In other news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Blake Russell sold 2,782 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $169.92, for a total value of $472,717.44. Following the completion of the sale, the executive vice president now owns 22,329 shares in the company, valued at approximately $3,794,143.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,367 shares of company stock valued at $9,060,758. 6.30% of the stock is owned by insiders.

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.