CWA Asset Management Group LLC Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

CWA Asset Management Group LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,887 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors also recently modified their holdings of the company. CX Institutional raised its stake in shares of Nexstar Media Group by 5.0% in the third quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares during the last quarter. Granite Group Advisors LLC raised its stake in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after acquiring an additional 72 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Nexstar Media Group by 7.3% in the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after acquiring an additional 74 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after acquiring an additional 87 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Nexstar Media Group by 2.3% in the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 1.7 %

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

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). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 25.72% 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 period in the prior year, the business earned $0.70 earnings per share. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

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

Insider Activity at Nexstar Media Group

In related news, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the sale, the director now directly owns 7,975 shares in the company, valued at $1,276,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Guggenheim lowered their target price 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. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.50.

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.