Prospera Financial Services Inc Sells 174 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Prospera Financial Services Inc decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,813 shares of the company’s stock after selling 174 shares during the quarter. Prospera Financial Services Inc’s holdings in Nexstar Media Group were worth $632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in Nexstar Media Group by 661.4% during the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after purchasing an additional 7,533 shares during the period. GSA Capital Partners LLP increased its position in Nexstar Media Group by 211.2% during the 3rd quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock valued at $1,024,000 after purchasing an additional 4,204 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in Nexstar Media Group during the 2nd quarter valued at about $570,000. AQR Capital Management LLC increased its position in Nexstar Media Group by 72.0% during the 2nd quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after purchasing an additional 83,637 shares during the period. Finally, Parcion Private Wealth LLC increased its position in Nexstar Media Group by 13.4% during the 3rd quarter. Parcion Private Wealth LLC now owns 31,115 shares of the company’s stock valued at $5,145,000 after purchasing an additional 3,680 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. This represents a 58.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,903 shares of company stock worth $7,833,240. Company insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Wells Fargo & Company cut their price objective 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. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $169.75 on Friday. 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, Inc. has a 12 month low of $141.38 and a 12 month high of $191.86. The company has a 50 day simple moving average of $168.98 and a two-hundred day simple moving average of $167.17. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.20 and a beta of 1.48.

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

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

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.