Sunbelt Securities Inc. Purchases 307 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Sunbelt Securities Inc. increased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 39.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,092 shares of the company’s stock after buying an additional 307 shares during the period. Sunbelt Securities Inc.’s holdings in Nexstar Media Group were worth $181,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CX Institutional grew its holdings in Nexstar Media Group by 5.0% during the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock worth $231,000 after acquiring an additional 67 shares during the period. Blue Trust Inc. lifted its stake in shares of Nexstar Media Group by 7.3% in the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after purchasing an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Nexstar Media Group by 0.6% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after purchasing an additional 87 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Nexstar Media Group by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the period. Finally, Natixis Advisors LLC lifted its stake in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock valued at $1,684,000 after buying an additional 117 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NXST. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Guggenheim reduced their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $204.29.

Insiders Place Their Bets

In related news, insider Andrew Alford sold 3,175 shares of the firm’s 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 transaction, the insider now directly owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bernadette S. Aulestia sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $164.45, for a total transaction of $82,225.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $328,900. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,798 shares of company stock valued at $7,989,464 in the last three months. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Trading Down 0.2 %

NASDAQ:NXST opened at $164.60 on Friday. 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, Inc. has a one year low of $147.25 and a one year high of $191.86. The company has a market cap of $5.11 billion, a PE ratio of 9.52, a PEG ratio of 0.20 and a beta of 1.45. The firm has a 50-day moving average of $170.11 and a 200-day moving average of $167.39.

Nexstar Media Group (NASDAQ:NXST) last issued 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 company had revenue of $1.37 billion during 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 business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. As a group, equities research analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 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.