Belpointe Asset Management LLC Sells 1,573 Shares of Nexstar Media Group, Inc. $NXST

Belpointe Asset Management LLC decreased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 53.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,393 shares of the company’s stock after selling 1,573 shares during the period. Belpointe Asset Management LLC’s holdings in Nexstar Media Group were worth $241,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NXST. Jones Financial Companies Lllp increased its position in shares of Nexstar Media Group by 71,715.8% during the first quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company’s stock worth $70,790,000 after acquiring an additional 394,437 shares in the last quarter. New Vernon Capital Holdings II LLC bought a new position in Nexstar Media Group in the first quarter valued at $60,064,000. Victory Capital Management Inc. grew its position in Nexstar Media Group by 611.5% in the first quarter. Victory Capital Management Inc. now owns 289,668 shares of the company’s stock valued at $51,914,000 after purchasing an additional 248,957 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company’s stock valued at $144,110,000 after purchasing an additional 195,574 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Nexstar Media Group by 58.3% in the first quarter. Brown Advisory Inc. now owns 352,165 shares of the company’s stock valued at $63,115,000 after purchasing an additional 129,647 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $192.53 on Friday. The stock has a market cap of $5.84 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. The company has a fifty day moving average price of $201.60 and a two-hundred day moving average price of $180.46. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.54 earnings per share. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, August 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 38.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nexstar Media Group in a research report on Wednesday. Zacks Research raised shares of Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Barrington Research reaffirmed an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Benchmark raised their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average target price of $225.00.

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.