First United Bank & Trust Acquires 2,425 Shares of Nexstar Media Group, Inc. $NXST

First United Bank & Trust boosted its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2,309.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,530 shares of the company’s stock after buying an additional 2,425 shares during the quarter. First United Bank & Trust’s holdings in Nexstar Media Group were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXST. IFP Advisors Inc lifted its holdings 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. Allworth Financial LP grew its holdings in shares of Nexstar Media Group by 617.2% during the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 179 shares during the last quarter. First Horizon Corp acquired a new position in Nexstar Media Group during the 3rd quarter worth approximately $44,000. LRI Investments LLC bought a new position in Nexstar Media Group in the 2nd quarter valued at approximately $43,000. Finally, Caldwell Trust Co acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $44,000. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NXST shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup dropped their target price on Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $210.83 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.79 and a beta of 0.84. The company’s fifty day moving average is $197.30 and its 200 day moving average is $195.77.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business earned $5.27 earnings per share. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were issued a $1.86 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $7.44 annualized dividend and a yield of 3.5%. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.