Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Founders Financial Alliance LLC

Founders Financial Alliance LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 21.5% in the 2nd quarter, Holdings Channel reports. The fund owned 2,950 shares of the company’s stock after acquiring an additional 522 shares during the period. Founders Financial Alliance LLC’s holdings in Nexstar Media Group were worth $490,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NXST. Capital Research Global Investors acquired a new stake in shares of Nexstar Media Group in the first quarter valued at about $92,323,000. Point72 Asset Management L.P. grew its holdings in shares of Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after buying an additional 358,920 shares in the last quarter. Vanguard Group Inc. grew its holdings in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after purchasing an additional 127,783 shares during the period. Payden & Rygel Investment Group purchased a new stake in Nexstar Media Group in the first quarter valued at approximately $15,144,000. Finally, Global Assets Advisory LLC purchased a new stake in Nexstar Media Group in the first quarter valued at approximately $14,421,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on NXST shares. Benchmark reaffirmed a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $201.67.

Nexstar Media Group Trading Down 0.6 %

NASDAQ NXST opened at $165.35 on Tuesday. The company’s fifty day simple moving average is $168.28 and its 200-day simple moving average is $165.87. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a market cap of $5.45 billion, a P/E ratio of 13.99, a PEG ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, August 8th. The company reported $3.54 EPS 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm posted $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.09%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Buying and Selling

In related news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,112 shares of company stock worth $6,887,029. Insiders own 5.90% 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.