1,320 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, HoldingsChannel reports. The firm bought 1,320 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Nexstar Media Group during the 3rd quarter worth $25,000. True Wealth Design LLC purchased a new position in Nexstar Media Group during the 3rd quarter worth $30,000. Wilmington Savings Fund Society FSB purchased a new position in Nexstar Media Group during the 3rd quarter worth $33,000. Capital Performance Advisors LLP purchased a new position in Nexstar Media Group during the 3rd quarter worth $44,000. Finally, UMB Bank n.a. lifted its position in Nexstar Media Group by 117.8% during the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after acquiring an additional 159 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $157.42 on Tuesday. 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, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86. The business has a 50-day simple moving average of $161.70 and a 200-day simple moving average of $166.81. The stock has a market cap of $4.88 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.26 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly 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 net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. Nexstar Media Group’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 4.29%. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Analyst Ratings Changes

NXST has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Loop Capital cut 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. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. 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 has a consensus rating of “Moderate Buy” and an average target price of $204.29.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the sale, the chief financial officer now directly owns 8,610 shares in the company, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,448 shares of company stock worth $23,828,076 in the last 90 days. Corporate 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.