Belpointe Asset Management LLC Has $532,000 Holdings in Nexstar Media Group, Inc. $NXST

Belpointe Asset Management LLC raised its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 148.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,966 shares of the company’s stock after acquiring an additional 1,774 shares during the period. Belpointe Asset Management LLC’s holdings in Nexstar Media Group were worth $532,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. purchased a new position in shares of Nexstar Media Group during the first quarter valued at approximately $323,000. Crossmark Global Holdings Inc. purchased a new position in shares of Nexstar Media Group during the first quarter valued at approximately $219,000. Foster & Motley Inc. boosted its position in shares of Nexstar Media Group by 8.5% during the first quarter. Foster & Motley Inc. now owns 41,063 shares of the company’s stock valued at $7,359,000 after buying an additional 3,202 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Nexstar Media Group by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company’s stock valued at $6,180,000 after buying an additional 624 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Nexstar Media Group during the first quarter valued at approximately $218,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $206.95 on Friday. The firm has a market cap of $6.27 billion, a PE ratio of 10.75, a PEG ratio of 1.53 and a beta of 1.04. The stock’s fifty day moving average price is $195.15 and its two-hundred day moving average price is $176.64. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.54 earnings per share. On average, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $1.86 dividend. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. Nexstar Media Group’s payout ratio is presently 38.63%.

Insider Transactions at Nexstar Media Group

In related news, EVP Rachel Morgan sold 329 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $54,367.25. Following the sale, the executive vice president directly owned 2,122 shares in the company, valued at approximately $350,660.50. The trade was a 13.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean Compton sold 850 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $140,462.50. Following the sale, the insider owned 15,272 shares in the company, valued at approximately $2,523,698. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,209 shares of company stock valued at $860,787. 6.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NXST. Guggenheim lifted their target price on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Benchmark boosted their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Barrington Research reissued an “outperform” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Zacks Research raised Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $225.00.

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.