Whittier Trust Co. Acquires Shares of 162 Nexstar Media Group, Inc. (NASDAQ:NXST)

Whittier Trust Co. bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 162 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares during the period. First United Bank & Trust acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $33,000. SRS Capital Advisors Inc. lifted its holdings in shares of Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after buying an additional 186 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity

In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the completion of the transaction, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean Compton sold 3,930 shares of the business’s 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 sale, the insider now owns 10,684 shares in the company, valued at $1,715,957.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,130 shares of company stock worth $3,134,802. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Stock Up 1.3 %

Shares of NXST opened at $170.88 on Friday. The firm has a 50 day simple moving average of $169.82 and a two-hundred day simple moving average of $165.95. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.27. The company has a market cap of $5.63 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.65 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. Nexstar Media Group’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.64 EPS. Research analysts forecast that Nexstar Media Group, Inc. will post 27.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.96%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NXST. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Wells Fargo & Company reduced their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, 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. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus price target of $201.67.

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.