Creative Planning Acquires 2,108 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Creative Planning raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,925 shares of the company’s stock after buying an additional 2,108 shares during the period. Creative Planning’s holdings in Nexstar Media Group were worth $1,145,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Whittier Trust Co. bought a new position in shares of Nexstar Media Group in the second quarter worth about $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares in the last quarter. UMB Bank n.a. raised its position in shares of Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after purchasing an additional 159 shares during the period. GAMMA Investing LLC increased its holdings 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 purchasing an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group during the second quarter worth about $49,000. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $175.92 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The firm has a 50-day moving average of $167.55 and a 200-day moving average of $166.21. The firm has a market cap of $5.68 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a 1-year low of $137.68 and a 1-year high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion during 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%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.64 EPS. Sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the transaction, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction that occurred 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 owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NXST. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Guggenheim decreased their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.