Cetera Investment Advisers Sells 1,996 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Cetera Investment Advisers decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 36.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,540 shares of the company’s stock after selling 1,996 shares during the quarter. Cetera Investment Advisers’ holdings in Nexstar Media Group were worth $559,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Nexstar Media Group in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp boosted its holdings in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after purchasing an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock valued at $124,000 after purchasing an additional 392 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Nexstar Media Group by 31.0% in the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock valued at $139,000 after purchasing an additional 209 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Nexstar Media Group by 49.7% in the 4th quarter. Covestor Ltd now owns 949 shares of the company’s stock worth $150,000 after buying an additional 315 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $171.51 on Tuesday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $5.23 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.45 and a beta of 1.06. The business’s fifty day moving average is $162.60 and its two-hundred day moving average is $161.85. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $5.16 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.34%. Nexstar Media Group’s payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and an average price target of $205.71.

Insider Transactions at Nexstar Media Group

In other news, insider Sean Compton sold 1,088 shares of Nexstar Media Group stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the completion of the sale, the insider now directly owns 12,096 shares of the company’s stock, valued at approximately $2,123,210.88. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the sale, the director now owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. The trade was a 28.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,558 shares of company stock worth $7,504,098. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group 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.