Glassy Mountain Advisors Inc. Raises Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Glassy Mountain Advisors Inc. increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 19,931 shares of the company’s stock after acquiring an additional 1,124 shares during the period. Glassy Mountain Advisors Inc. owned approximately 0.06% of Nexstar Media Group worth $3,296,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NXST. Whittier Trust Co. acquired a new position in Nexstar Media Group during the second quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $44,000 after purchasing an additional 259 shares in the last quarter. UMB Bank n.a. lifted its stake in Nexstar Media Group by 117.8% during the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after purchasing an additional 159 shares in the last quarter. GAMMA Investing LLC lifted its stake in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group during the second quarter worth $49,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Up 0.7 %

Nexstar Media Group stock opened at $177.08 on Friday. Nexstar Media Group, Inc. has a 1-year low of $140.92 and a 1-year high of $187.27. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market cap of $5.71 billion, a PE ratio of 13.92, a P/E/G ratio of 0.20 and a beta of 1.48. The stock’s fifty day moving average is $167.82 and its two-hundred day moving average is $166.45.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 53.14%.

Insiders Place Their Bets

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Lee Ann Gliha sold 984 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Guggenheim reduced their price objective on 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Benchmark reduced their price objective on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Nexstar Media Group Company 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.