Ritholtz Wealth Management Acquires 8,505 Shares of Nexstar Media Group, Inc. $NXST

Ritholtz Wealth Management boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 40.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,457 shares of the company’s stock after buying an additional 8,505 shares during the quarter. Ritholtz Wealth Management owned approximately 0.10% of Nexstar Media Group worth $5,327,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NXST. CPC Advisors LLC raised its position in shares of Nexstar Media Group by 114.3% in the 1st quarter. CPC Advisors LLC now owns 26,651 shares of the company’s stock worth $4,819,000 after acquiring an additional 14,217 shares in the last quarter. SG Americas Securities LLC boosted its position in Nexstar Media Group by 1,272.0% during the first quarter. SG Americas Securities LLC now owns 51,367 shares of the company’s stock valued at $9,289,000 after purchasing an additional 47,623 shares in the last quarter. Evolve Private Wealth LLC grew its stake in Nexstar Media Group by 4.6% in the first quarter. Evolve Private Wealth LLC now owns 4,121 shares of the company’s stock valued at $745,000 after purchasing an additional 180 shares during the last quarter. Baron Wealth Management LLC grew its stake in Nexstar Media Group by 17.7% in the first quarter. Baron Wealth Management LLC now owns 1,986 shares of the company’s stock valued at $359,000 after purchasing an additional 299 shares during the last quarter. Finally, Sentinel Dome Partners LLC bought a new position in Nexstar Media Group in the fourth quarter worth about $2,315,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NXST opened at $154.70 on Friday. The company has a market cap of $4.72 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 0.42 and a beta of 0.91. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The firm’s 50-day moving average price is $187.78 and its 200-day moving average price is $205.73. Nexstar Media Group, Inc. has a 52-week low of $154.47 and a 52-week high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.8%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 159.66%.

Insiders Place Their Bets

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $180.00, for a total transaction of $180,000.00. Following the completion of the sale, the director directly owned 5,658 shares in the company, valued at approximately $1,018,440. The trade was a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Alford sold 778 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $137,254.76. Following the completion of the transaction, the insider directly owned 14,357 shares in the company, valued at approximately $2,532,861.94. The trade was a 5.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 22,813 shares of company stock valued at $4,174,731. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NXST shares. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Benchmark decreased their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Nexstar Media Group in a report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $259.67.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.