Avior Wealth Management LLC Reduces Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Avior Wealth Management LLC lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 29.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 261 shares of the company’s stock after selling 108 shares during the quarter. Avior Wealth Management LLC’s holdings in Nexstar Media Group were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in Nexstar Media Group in the second quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 259 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the third quarter valued at about $44,000. GAMMA Investing LLC lifted its position in Nexstar Media Group by 112.2% in the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group in the second quarter valued at about $49,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

NXST has been the topic of a number of recent 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, November 7th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price target on shares of 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.50.

Insiders Place Their Bets

In related news, EVP Rachel Morgan sold 6,196 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,903 shares of company stock worth $7,833,240. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Trading Up 0.4 %

Shares of NXST stock opened at $169.75 on Monday. The business’s 50 day moving average is $168.98 and its two-hundred day moving average is $167.16. Nexstar Media Group, Inc. has a twelve month low of $141.38 and a twelve month high of $191.86. The company has a market capitalization of $5.27 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. Equities analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.98%. Nexstar Media Group’s payout ratio is 39.10%.

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.