Kingsview Wealth Management LLC Buys 5,936 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Kingsview Wealth Management LLC raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,810 shares of the company's stock after purchasing an additional 5,936 shares during the period. Kingsview Wealth Management LLC owned about 0.18% of Nexstar Media Group worth $8,816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Nexstar Media Group by 67.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,239 shares of the company's stock valued at $4,339,000 after purchasing an additional 10,603 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $3,758,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Nexstar Media Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company's stock valued at $179,149,000 after buying an additional 7,117 shares during the last quarter. Quest Partners LLC boosted its position in shares of Nexstar Media Group by 661.4% during the third quarter. Quest Partners LLC now owns 8,672 shares of the company's stock worth $1,434,000 after buying an additional 7,533 shares during the period. Finally, Holocene Advisors LP grew its holdings in Nexstar Media Group by 680.9% in the 3rd quarter. Holocene Advisors LP now owns 17,219 shares of the company's stock worth $2,847,000 after buying an additional 15,014 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

NASDAQ:NXST traded down $3.31 during trading hours on Wednesday, reaching $149.75. 240,738 shares of the company's stock were exchanged, compared to its average volume of 275,473. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $4.65 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.44 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $147.25 and a 12 month high of $191.86. The business's 50-day simple moving average is $157.74 and its two-hundred day simple moving average is $164.87.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.97%. This is a boost from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. Nexstar Media Group's payout ratio is presently 39.10%.

Insider Transactions at Nexstar Media Group

In related news, Director John R. Muse sold 2,385 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $170.16, for a total transaction of $405,831.60. Following the transaction, the director now directly owns 25,978 shares of the company's stock, valued at approximately $4,420,416.48. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 35,205 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. This represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,209 shares of company stock valued at $21,499,239 over the last three months. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXST. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim reaffirmed a "buy" rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reiterated a "buy" rating and issued a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Barrington Research restated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $204.29.

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.