Evergreen Wealth Management LLC Invests $2.64 Million in Nexstar Media Group, Inc. (NASDAQ:NXST)

Evergreen Wealth Management LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,938 shares of the company's stock, valued at approximately $2,635,000. Nexstar Media Group accounts for about 1.6% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also modified their holdings of NXST. Natixis Advisors LLC boosted its holdings in Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock worth $1,684,000 after buying an additional 117 shares in the last quarter. Zions Bancorporation N.A. raised its position in shares of Nexstar Media Group by 18.5% in the third quarter. Zions Bancorporation N.A. now owns 12,226 shares of the company's stock worth $2,022,000 after acquiring an additional 1,905 shares during the period. MQS Management LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $359,000. Victory Capital Management Inc. grew its position in shares of Nexstar Media Group by 41.9% during the 3rd quarter. Victory Capital Management Inc. now owns 20,571 shares of the company's stock valued at $3,401,000 after acquiring an additional 6,071 shares during the period. Finally, Aigen Investment Management LP increased its stake in shares of Nexstar Media Group by 99.7% in the 3rd quarter. Aigen Investment Management LP now owns 3,539 shares of the company's stock valued at $585,000 after purchasing an additional 1,767 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $2.62 during trading hours on Friday, hitting $161.84. 429,462 shares of the company's stock traded hands, compared to its average volume of 329,771. The company has a market capitalization of $5.02 billion, a PE ratio of 9.36, a PEG ratio of 0.19 and a beta of 1.48. 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 52-week low of $141.38 and a 52-week high of $191.86. The firm's 50-day moving average is $168.62 and its 200-day moving average is $167.09.

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 for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company's revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 39.10%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NXST. Loop Capital downgraded Nexstar Media Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective 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. Guggenheim cut 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 research note on Friday, October 4th. Finally, Benchmark reaffirmed a "buy" rating and issued a $215.00 price target 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's stock. According to data from MarketBeat, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus price target of $198.50.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, EVP Michael Strober sold 1,076 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.50, for a total transaction of $180,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group 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 completion of the sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,437 shares of company stock worth $8,429,561 in the last quarter. Company insiders own 6.30% of the company's stock.

About Nexstar Media Group

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.