B. Riley Wealth Advisors Inc. Has $343,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

B. Riley Wealth Advisors Inc. decreased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,190 shares of the company’s stock after selling 188 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Nexstar Media Group were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NXST. Point72 Asset Management L.P. lifted its stake in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares during the period. Norges Bank acquired a new position in Nexstar Media Group in the fourth quarter valued at about $51,812,000. International Assets Investment Management LLC lifted its stake in Nexstar Media Group by 15,107.2% in the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after buying an additional 121,764 shares during the period. LSV Asset Management lifted its stake in Nexstar Media Group by 5.5% in the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after buying an additional 72,462 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Nexstar Media Group by 103.1% in the third quarter. AQR Capital Management LLC now owns 142,146 shares of the company’s stock valued at $20,219,000 after buying an additional 72,145 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In related news, EVP Blake Russell sold 433 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the sale, the insider now directly owns 12,477 shares of the company’s stock, valued at $1,860,071.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,826 shares of company stock valued at $1,080,597. Insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

NXST has been the subject of several recent analyst reports. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Benchmark restated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a report on Thursday, June 20th. Rosenblatt Securities lowered their price target on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.00.

Nexstar Media Group Stock Down 0.4 %

NASDAQ:NXST opened at $157.23 on Wednesday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $5.18 billion, a PE ratio of 13.30, a PEG ratio of 0.57 and a beta of 1.48. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The stock has a 50-day simple moving average of $161.67 and a 200 day simple moving average of $164.22.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.30%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

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.