Global Assets Advisory LLC Takes $14.42 Million Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Global Assets Advisory LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 83,704 shares of the company’s stock, valued at approximately $14,421,000. Global Assets Advisory LLC owned about 0.25% of Nexstar Media Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake in shares of Nexstar Media Group by 1.8% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,066 shares of the company’s stock valued at $637,000 after purchasing an additional 70 shares during the last quarter. Signaturefd LLC lifted its position in Nexstar Media Group by 20.3% in the fourth quarter. Signaturefd LLC now owns 420 shares of the company’s stock valued at $66,000 after buying an additional 71 shares during the last quarter. Fifth Third Bancorp lifted its position in Nexstar Media Group by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 81 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in shares of Nexstar Media Group by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock valued at $2,867,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at $2,054,452.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 747 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $111,362.76. Following the transaction, the chief financial officer now directly owns 6,591 shares of the company’s stock, valued at approximately $982,586.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now owns 12,027 shares in the company, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold 8,826 shares of company stock valued at $1,422,237 in the last ninety days. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $157.80 on Tuesday. The business’s 50-day moving average is $161.71 and its two-hundred day moving average is $164.16. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The firm has a market capitalization of $5.20 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.57 and a beta of 1.48. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $2.97 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, May 9th. Nexstar Media Group’s payout ratio is 57.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NXST shares. Benchmark reaffirmed a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Thursday, June 20th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, May 9th. Finally, Rosenblatt Securities cut their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.00.

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.