Alps Advisors Inc. Purchases 47,375 Shares of Nexstar Media Group, Inc. $NXST

Alps Advisors Inc. boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2,272.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,460 shares of the company’s stock after purchasing an additional 47,375 shares during the quarter. Alps Advisors Inc. owned about 0.16% of Nexstar Media Group worth $9,780,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. IFP Advisors Inc boosted 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 valued at $26,000 after buying an additional 120 shares during the period. Root Financial Partners LLC acquired a new position in shares of Nexstar Media Group during the third quarter worth $31,000. Allworth Financial LP increased its holdings in Nexstar Media Group by 617.2% in the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after purchasing an additional 179 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Nexstar Media Group by 164.5% in the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after buying an additional 125 shares during the period. Finally, LRI Investments LLC bought a new stake in Nexstar Media Group during the 2nd quarter worth approximately $43,000. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Nexstar Media Group Stock Performance

NXST stock opened at $221.27 on Monday. The firm has a market cap of $6.71 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The stock has a 50-day moving average price of $206.19 and a 200-day moving average price of $200.00. Nexstar Media Group, Inc. has a 1-year low of $141.66 and a 1-year high of $223.43.

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

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $1.86 dividend. The ex-dividend date is Friday, February 13th. This represents a $7.44 annualized dividend and a dividend yield of 3.4%. Nexstar Media Group’s payout ratio is currently 46.13%.

About Nexstar Media Group

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.