Farther Finance Advisors LLC Buys 2,533 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Farther Finance Advisors LLC boosted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 137.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,373 shares of the company’s stock after acquiring an additional 2,533 shares during the period. Farther Finance Advisors LLC’s holdings in Nexstar Media Group were worth $723,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in Nexstar Media Group during the 2nd quarter worth $27,000. Allspring Global Investments Holdings LLC increased its stake 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 worth $44,000 after acquiring an additional 259 shares during the period. GAMMA Investing LLC increased its stake in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after acquiring an additional 156 shares during the period. Mascoma Wealth Management LLC bought a new position in Nexstar Media Group during the 2nd quarter worth $49,000. Finally, Quarry LP increased its stake in Nexstar Media Group by 77.8% during the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock worth $49,000 after acquiring an additional 130 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This trade represents a 0.00 % 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 Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now directly owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock valued at $6,887,029 in the last three months. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Trading Down 0.4 %

NASDAQ NXST opened at $172.87 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a twelve month low of $140.92 and a twelve month high of $187.27. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The business’s fifty day moving average is $167.96 and its 200 day moving average is $166.64.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 earnings per share. As a group, sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.91%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 53.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NXST shares. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Wells Fargo & Company reduced 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. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Guggenheim reduced their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Benchmark reduced their target price on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

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.