Sequoia Financial Advisors LLC Makes New $293,000 Investment in Nexstar Media Group, Inc. $NXST

Sequoia Financial Advisors LLC purchased a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,695 shares of the company’s stock, valued at approximately $293,000.

Other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in Nexstar Media Group by 375.0% during the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. LRI Investments LLC acquired a new stake in shares of Nexstar Media Group in the second quarter valued at $43,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Nexstar Media Group by 2,293.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock valued at $69,000 after buying an additional 367 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Nexstar Media Group by 62.3% in the first quarter. First Horizon Advisors Inc. now owns 401 shares of the company’s stock valued at $72,000 after buying an additional 154 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Nexstar Media Group by 186.7% in the first quarter. SBI Securities Co. Ltd. now owns 453 shares of the company’s stock valued at $81,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NXST shares. Weiss Ratings restated a “buy (b)” rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Guggenheim upped their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Benchmark upped their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, August 8th. Wells Fargo & Company upped their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Zacks Research upgraded Nexstar Media Group to a “hold” rating in a 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’s stock. According to MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Nexstar Media Group Stock Down 1.6%

Shares of Nexstar Media Group stock opened at $193.99 on Thursday. The stock’s fifty day moving average is $201.82 and its 200-day moving average is $181.52. The firm has a market capitalization of $5.88 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.11. The company 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%.Nexstar Media Group’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.54 earnings per share. Equities analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s payout ratio is presently 38.63%.

Nexstar Media Group Company 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.