Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,840 shares of the company’s stock after purchasing an additional 168 shares during the period. Farther Finance Advisors LLC’s holdings in Nexstar Media Group were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares during the last quarter. Capital Research Global Investors acquired a new stake in Nexstar Media Group during the 1st quarter worth $92,323,000. Point72 Asset Management L.P. boosted its stake in Nexstar Media Group by 392.6% during the 4th quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock worth $70,593,000 after purchasing an additional 358,920 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 acquiring an additional 2,145 shares during the period. Finally, Norges Bank acquired a new stake in shares of Nexstar Media Group in the 4th quarter worth $51,812,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $154.99, for a total transaction of $228,610.25. Following the transaction, the director now directly owns 8,975 shares of the company’s stock, valued at $1,391,035.25. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Gary Weitman sold 522 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 transaction of $77,819.76. Following the transaction, the insider now directly owns 12,477 shares of the company’s stock, valued at $1,860,071.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $154.99, for a total transaction of $228,610.25. Following the transaction, the director now directly owns 8,975 shares in the company, valued at $1,391,035.25. The disclosure for this sale can be found here. Insiders have sold a total of 17,911 shares of company stock valued at $2,939,762 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $167.47 on Thursday. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.27. The firm has a 50 day moving average price of $170.48 and a 200 day moving average price of $165.87. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.19 and a beta of 1.50. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results 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). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $2.64 earnings per share. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $1.69 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.04%. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

Wall Street Analyst Weigh In

NXST has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Friday, August 9th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Finally, Wells Fargo & Company lowered their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued 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 $201.67.

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.