Corient Private Wealth LLC Invests $731,000 in Nexstar Media Group, Inc. (NASDAQ:NXST)

Corient Private Wealth LLC acquired a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,624 shares of the company’s stock, valued at approximately $731,000.

A number of other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the period. Proficio Capital Partners LLC purchased a new stake in Nexstar Media Group in the fourth quarter valued at approximately $35,560,000. Raymond James Financial Inc. acquired a new position in Nexstar Media Group during the fourth quarter worth $8,402,000. World Investment Advisors LLC purchased a new position in shares of Nexstar Media Group during the third quarter worth $3,747,000. Finally, SGL Investment Advisors Inc. purchased a new position in shares of Nexstar Media Group during the third quarter worth $3,758,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NXST shares. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Guggenheim lifted their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. Finally, Benchmark raised their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Stock Down 1.8 %

Shares of Nexstar Media Group stock opened at $179.49 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a market capitalization of $5.48 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a 50 day moving average of $161.89 and a 200 day moving average of $164.49.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.15%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio is presently 34.56%.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the transaction, the chief executive officer now directly owns 806,019 shares of the company’s stock, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the sale, the insider now owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,105 shares of company stock valued at $6,722,463. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Company 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.