Cerity Partners LLC Has $1.18 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cerity Partners LLC increased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 99.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,136 shares of the company's stock after purchasing an additional 3,563 shares during the period. Cerity Partners LLC's holdings in Nexstar Media Group were worth $1,180,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Whittier Trust Co. bought a new stake in shares of Nexstar Media Group in the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its holdings in Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company's stock worth $44,000 after acquiring an additional 259 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Nexstar Media Group during the third quarter worth about $44,000. UMB Bank n.a. raised its holdings in Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company's stock worth $49,000 after acquiring an additional 159 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock worth $49,000 after acquiring an additional 156 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was 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 $1,276,000. This trade represents a 11.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the sale, the insider now owns 25,540 shares of the company's stock, valued at approximately $4,358,145.60. The trade was a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,423 shares of company stock worth $7,916,739. Insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Benchmark restated a "buy" rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $198.50.

Nexstar Media Group Price Performance

Shares of NXST stock traded down $1.85 during trading hours on Thursday, reaching $171.09. The company's stock had a trading volume of 215,715 shares, compared to its average volume of 326,768. The firm's 50 day simple moving average is $169.72 and its 200-day simple moving average is $167.06. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a fifty-two week low of $141.56 and a fifty-two week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Friday, November 15th. Nexstar Media Group's payout ratio is 39.10%.

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.