Cerity Partners LLC Makes New $208,000 Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cerity Partners LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,327 shares of the company’s stock, valued at approximately $208,000.

Several other institutional investors also recently made changes to their positions in NXST. Sequoia Financial Advisors LLC lifted its stake in shares of Nexstar Media Group by 669.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,767 shares of the company’s stock valued at $1,688,000 after purchasing an additional 9,368 shares during the period. International Assets Investment Management LLC lifted its position in shares of Nexstar Media Group by 15,107.2% during the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after acquiring an additional 121,764 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Nexstar Media Group by 54.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 13,073 shares of the company’s stock worth $2,049,000 after acquiring an additional 4,596 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth approximately $81,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth approximately $314,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 31,758 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at approximately $101,032,784.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Perry A. Sook sold 31,758 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the completion of the transaction, the chief executive officer now owns 636,788 shares of the company’s stock, valued at approximately $101,032,784.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total transaction of $244,850.00. Following the completion of the sale, the director now directly owns 4,525 shares in the company, valued at $751,150. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,508 shares of company stock valued at $7,487,950. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NXST shares. Rosenblatt Securities reduced their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. TheStreet upgraded shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Finally, Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and a consensus target price of $193.83.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $164.75 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.90. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The business has a fifty day moving average of $164.98 and a 200-day moving average of $159.34. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.50.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.04 EPS. As a group, analysts predict that Nexstar Media Group, Inc. will post 26.73 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is 70.20%.

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.