1,412 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Purchased by City Center Advisors LLC

City Center Advisors LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,412 shares of the company’s stock, valued at approximately $223,000.

A number of other large investors have also recently modified their holdings of the business. CX Institutional raised its stake in Nexstar Media Group by 5.0% in the third quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after purchasing an additional 67 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Nexstar Media Group by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock valued at $1,073,000 after buying an additional 68 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares during the last quarter. Natixis Advisors LLC grew its position in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after acquiring an additional 117 shares in the last quarter. Finally, Quarry LP increased its stake in Nexstar Media Group by 77.8% in the second quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total value of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares in the company, valued at approximately $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Perry A. Sook sold 12,239 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,448 shares of company stock worth $23,828,076. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

Nexstar Media Group stock opened at $151.23 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market cap of $4.69 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a 1-year low of $147.25 and a 1-year high of $191.86. The firm has a 50-day moving average of $165.40 and a 200-day moving average of $167.83.

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

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s payout ratio is currently 39.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NXST. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. Guggenheim reduced their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Barrington Research restated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price of $204.29.

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.