Raymond James & Associates Has $6.13 Million Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Raymond James & Associates lowered its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,092 shares of the company’s stock after selling 270 shares during the quarter. Raymond James & Associates owned about 0.11% of Nexstar Media Group worth $6,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CX Institutional lifted its position in Nexstar Media Group by 5.0% in the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares in the last quarter. Granite Group Advisors LLC lifted its holdings in shares of Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Nexstar Media Group by 7.3% during the third quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock valued at $181,000 after buying an additional 74 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. grew its holdings in Nexstar Media Group by 0.6% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock worth $2,308,000 after buying an additional 87 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its position in Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock valued at $700,000 after buying an additional 96 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

NXST has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark cut their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company decreased their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Guggenheim cut their price target on shares of 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, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $175.92 on Friday. The company’s 50 day simple moving average is $167.55 and its two-hundred day simple moving average is $166.21. The stock has a market capitalization of $5.68 billion, a PE ratio of 13.83, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. Nexstar Media Group, Inc. has a 1 year low of $137.68 and a 1 year 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 the consensus estimate of $4.48 by ($0.94). The business had revenue of $1.27 billion for 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%. Nexstar Media Group’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. Analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Insider Transactions at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of 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 trade was a 0.00 % decrease in their position. 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 stock in a transaction on Friday, August 16th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This trade represents 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 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is owned by corporate insiders.

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.