Ethic Inc. Has $275,000 Stock Holdings in Nexstar Media Group, Inc. $NXST

Ethic Inc. raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 23.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,592 shares of the company’s stock after purchasing an additional 307 shares during the period. Ethic Inc.’s holdings in Nexstar Media Group were worth $275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXST. IFP Advisors Inc grew its stake in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Nexstar Media Group in the second quarter worth $43,000. Caitong International Asset Management Co. Ltd grew its stake 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 worth $69,000 after acquiring an additional 367 shares during the last quarter. First Horizon Advisors Inc. grew its stake 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 worth $72,000 after acquiring an additional 154 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake 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 worth $81,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NXST shares. Weiss Ratings restated a “buy (b)” rating on shares of Nexstar Media Group in a research note on Wednesday, October 8th. Benchmark raised their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a research note 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. Zacks Research raised Nexstar Media Group to a “hold” rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company raised their target price 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. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $195.18 on Friday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 10.13, a PEG ratio of 1.40 and a beta of 1.01. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The business has a 50-day moving average of $200.00 and a 200-day moving average of $183.33. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80.

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

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a $1.86 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $7.44 annualized dividend and a yield of 3.8%. Nexstar Media Group’s payout ratio is presently 38.63%.

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.