Cetera Investment Advisers Has $966,000 Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cetera Investment Advisers cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,815 shares of the company’s stock after selling 289 shares during the quarter. Cetera Investment Advisers’ holdings in Nexstar Media Group were worth $966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after purchasing an additional 62,331 shares during the last quarter. Capital Research Global Investors acquired a new stake in Nexstar Media Group in the 1st quarter worth $92,323,000. Bank of New York Mellon Corp grew its position in Nexstar Media Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after purchasing an additional 2,145 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Nexstar Media Group by 2.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 278,714 shares of the company’s stock worth $43,688,000 after purchasing an additional 7,514 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on NXST shares. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Guggenheim dropped their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Benchmark reduced their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.71.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $172.33 on Friday. 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 company has a market capitalization of $5.68 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. The company’s 50 day moving average price is $165.61 and its two-hundred day moving average price is $165.83. Nexstar Media Group, Inc. has a 52 week low of $133.55 and a 52 week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. 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 earned $2.64 earnings per share. On average, analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 3.92%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the transaction, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction dated 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 $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock worth $6,887,029 over the last ninety days. 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.