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

Farther Finance Advisors LLC lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 137.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,373 shares of the company’s stock after buying 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 quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors bought a new stake in Nexstar Media Group in the 1st quarter valued at about $92,323,000. Vanguard Group Inc. increased its position in Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group bought a new stake in Nexstar Media Group in the 1st quarter valued at about $15,144,000. Copeland Capital Management LLC increased its position in Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after buying an additional 83,829 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Nexstar Media Group by 72.0% in the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after buying an additional 83,637 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $172.87 on Wednesday. Nexstar Media Group, Inc. has a twelve month low of $140.92 and a twelve month high of $187.27. The stock’s 50 day moving average price is $167.96 and its 200-day moving average price is $166.64. The company has a market capitalization of $5.58 billion, a PE ratio of 13.59, a PEG ratio of 0.20 and a beta of 1.48. 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 (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. Nexstar Media Group’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.91%. Nexstar Media Group’s payout ratio is presently 53.14%.

Insider Transactions at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 in the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, August 8th. Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has a consensus 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.