HCR Wealth Advisors Makes New $827,000 Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

HCR Wealth Advisors bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,000 shares of the company’s stock, valued at approximately $827,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXST. Whittier Trust Co. bought a new position in shares of Nexstar Media Group during the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares in the last quarter. UMB Bank n.a. raised its position in shares of Nexstar Media Group by 117.8% in the 3rd quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after purchasing an additional 159 shares during the last quarter. GAMMA Investing LLC increased its stake in Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Guggenheim lowered their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday, August 9th. Finally, Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Sean Compton sold 3,930 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now owns 10,684 shares of the company’s stock, valued at $1,715,957.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock valued at $6,887,029 over the last ninety days. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded up $3.25 during mid-day trading on Friday, hitting $169.67. 227,479 shares of the company traded hands, compared to its average volume of 326,822. The stock’s fifty day moving average price is $165.53 and its 200-day moving average price is $165.86. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a one year low of $133.55 and a one year high of $187.27. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.94). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.64 earnings per share. Research analysts anticipate that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a yield of 3.98%. Nexstar Media Group’s payout ratio is presently 53.14%.

About Nexstar Media Group

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.