Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2,074.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 674 shares of the company’s stock after acquiring an additional 643 shares during the period. Venturi Wealth Management LLC’s holdings in Nexstar Media Group were worth $111,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Nexstar Media Group in the third quarter worth about $44,000. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after acquiring an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group in the second quarter valued at approximately $49,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Down 1.2 %

Shares of NXST opened at $166.08 on Thursday. The stock has a 50 day moving average price of $168.54 and a 200 day moving average price of $167.12. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Nexstar Media Group’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of 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. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, Guggenheim dropped 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $198.50.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the transaction, the insider now owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Michael Strober sold 1,076 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.50, for a total transaction of $180,230.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean Compton sold 3,930 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,367 shares of company stock valued at $9,060,758. 6.30% of the stock is currently owned by insiders.

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.