Nexstar Media Group, Inc. $NXST Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,024 shares of the company’s stock after purchasing an additional 222 shares during the period. D.A. Davidson & CO.’s holdings in Nexstar Media Group were worth $350,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Nexstar Media Group in the second quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd increased its position 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 in the last quarter. First Horizon Advisors Inc. increased its position 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 in the last quarter. Finally, SBI Securities Co. Ltd. increased its position 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 in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $195.18 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The stock has a market capitalization of $5.92 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. The company has a 50 day moving average price of $200.00 and a two-hundred day moving average price of $183.33. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company earned $3.54 earnings per share. Nexstar Media Group’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $7.44 dividend on an annualized basis and a yield of 3.8%. Nexstar Media Group’s payout ratio is 38.63%.

Analyst Upgrades and Downgrades

NXST has been the topic of several analyst reports. Guggenheim lifted their target price on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Barrington Research reissued an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Wells Fargo & Company raised their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Benchmark raised their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock 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.