Advisors Asset Management Inc. Raises Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Advisors Asset Management Inc. boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 46.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,908 shares of the company's stock after acquiring an additional 6,984 shares during the period. Advisors Asset Management Inc. owned 0.07% of Nexstar Media Group worth $3,622,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NXST. Whittier Trust Co. bought a new position in shares of Nexstar Media Group in the second quarter worth $27,000. Allspring Global Investments Holdings LLC grew its holdings in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock valued at $44,000 after buying an additional 259 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group during the 3rd quarter valued at about $44,000. GAMMA Investing LLC increased its position in shares of Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after buying an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Nexstar Media Group in the second quarter worth about $49,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of NXST traded up $0.63 during midday trading on Friday, reaching $169.75. The stock had a trading volume of 374,430 shares, compared to its average volume of 399,829. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 12-month low of $141.38 and a 12-month high of $191.86. The company's 50-day moving average is $168.98 and its 200 day moving average is $167.17.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its 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 firm 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 firm's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.98%. The ex-dividend date is Friday, November 15th. Nexstar Media Group's dividend payout ratio is presently 39.10%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. StockNews.com raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Benchmark reissued a "buy" rating and set a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Loop Capital cut Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report 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. Based on data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average price target of $198.50.

Insider Buying and Selling at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 1,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 7,975 shares of the company's stock, valued at approximately $1,276,000. This represents a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rachel Morgan sold 6,196 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The disclosure for this sale can be found here. Insiders sold a total of 44,903 shares of company stock worth $7,833,240 over the last three months. Company insiders own 6.30% of the company's stock.

Nexstar Media Group 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.