Cerity Partners LLC Has $1.18 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cerity Partners LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 99.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 7,136 shares of the company’s stock after acquiring an additional 3,563 shares during the period. Cerity Partners LLC’s holdings in Nexstar Media Group were worth $1,180,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NXST. Copeland Capital Management LLC grew its stake in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after acquiring an additional 83,829 shares during the period. AQR Capital Management LLC grew its stake in Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after acquiring an additional 83,637 shares during the period. Dimensional Fund Advisors LP grew its stake in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock valued at $220,189,000 after acquiring an additional 62,331 shares during the period. Long Focus Capital Management LLC grew its stake in Nexstar Media Group by 86.2% in the second quarter. Long Focus Capital Management LLC now owns 121,000 shares of the company’s stock valued at $20,087,000 after acquiring an additional 56,000 shares during the period. Finally, Payden & Rygel boosted its position in shares of Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock valued at $18,222,000 after buying an additional 31,700 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $172.94 on Thursday. The business’s fifty day simple moving average is $169.72 and its 200 day simple moving average is $167.06. The firm has a market capitalization of $5.36 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.45. Nexstar Media Group, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.91%. Nexstar Media Group’s payout ratio is presently 39.10%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,423 shares of company stock worth $7,916,739 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NXST shares. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Wells Fargo & Company cut their target price 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. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Nexstar Media Group 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.