Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,733 shares of the company’s stock after buying an additional 482 shares during the period. Truist Financial Corp’s holdings in Nexstar Media Group were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. acquired a new stake in Nexstar Media Group during the second quarter worth $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares during the period. GAMMA Investing LLC increased its position in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares during the last quarter. Mascoma Wealth Management LLC purchased a new stake in Nexstar Media Group in the 2nd quarter valued at about $49,000. Finally, Quarry LP lifted its position 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 buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the sale, the director now owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NXST shares. Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company decreased their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Guggenheim cut their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

Nexstar Media Group Stock Up 2.0 %

Shares of NASDAQ NXST opened at $169.67 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of 13.34, a PEG ratio of 0.19 and a beta of 1.49. The business’s fifty day simple moving average is $165.53 and its 200-day simple moving average is $165.86. Nexstar Media Group, Inc. has a 12-month low of $133.55 and a 12-month 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.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.64 EPS. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company 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 was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.98%. Nexstar Media Group’s dividend payout ratio is currently 53.14%.

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.