Sunbelt Securities Inc. Has $130,000 Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Sunbelt Securities Inc. boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 38.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 785 shares of the company’s stock after purchasing an additional 219 shares during the period. Sunbelt Securities Inc.’s holdings in Nexstar Media Group were worth $130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group in the first quarter worth $92,323,000. Point72 Asset Management L.P. lifted its position in Nexstar Media Group by 392.6% during the 4th 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 shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group acquired a new stake in shares of Nexstar Media Group in the first quarter valued at about $15,144,000. Finally, Global Assets Advisory LLC bought a new stake in Nexstar Media Group during the first quarter worth about $14,421,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NXST shares. Wells Fargo & Company decreased their price target on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered 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 note on Friday, August 9th. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday. Finally, Barrington Research reiterated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

Nexstar Media Group Stock Down 0.7 %

Shares of NXST opened at $162.64 on Friday. The firm’s 50-day simple moving average is $167.80 and its 200 day simple moving average is $165.87. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $5.36 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $2.64 EPS. On average, analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.16%. Nexstar Media Group’s payout ratio is presently 57.19%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction dated 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 in the company, valued at approximately $1,270,299. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,112 shares of company stock worth $6,887,029. Corporate insiders own 5.90% of the company’s stock.

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.