Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,088 shares of the company’s stock after purchasing an additional 74 shares during the period. Blue Trust Inc.’s holdings in Nexstar Media Group were worth $181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new position in Nexstar Media Group in the second quarter worth $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after acquiring an additional 259 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock valued at $49,000 after buying an additional 159 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Nexstar Media Group during the 2nd quarter valued at $49,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of NXST opened at $170.93 on Friday. The stock’s 50-day moving average price is $167.03 and its two-hundred day moving average price is $165.91. The stock has a market cap of $5.51 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a 1 year low of $133.55 and a 1 year high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 EPS. On average, equities analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on NXST. Guggenheim decreased their target price 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. Deutsche Bank Aktiengesellschaft cut their price objective 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. Benchmark reduced their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Barrington Research restated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.71.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the completion of the transaction, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Sean Compton sold 3,930 shares of the company’s 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 transaction, the insider now owns 10,684 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 5,216 shares in the company, valued at $859,596.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock valued at $6,887,029 in the last quarter. 6.30% of the stock is currently owned by insiders.

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.