Kingsview Wealth Management LLC Acquires 1,693 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Kingsview Wealth Management LLC increased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,874 shares of the company’s stock after acquiring an additional 1,693 shares during the period. Kingsview Wealth Management LLC owned about 0.15% of Nexstar Media Group worth $8,247,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NXST. CANADA LIFE ASSURANCE Co grew its holdings in shares of Nexstar Media Group by 3.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 35,677 shares of the company’s stock valued at $6,140,000 after acquiring an additional 1,055 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Nexstar Media Group by 8.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company’s stock valued at $410,000 after acquiring an additional 188 shares in the last quarter. Redwood Investment Management LLC lifted its stake in Nexstar Media Group by 5.5% in the first quarter. Redwood Investment Management LLC now owns 31,490 shares of the company’s stock valued at $5,425,000 after purchasing an additional 1,644 shares during the last quarter. EMC Capital Management lifted its stake in Nexstar Media Group by 35.8% in the first quarter. EMC Capital Management now owns 3,116 shares of the company’s stock valued at $537,000 after purchasing an additional 821 shares during the last quarter. Finally, Granite Group Advisors LLC lifted its stake in Nexstar Media Group by 5.1% in the first quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock valued at $257,000 after purchasing an additional 72 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. 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, November 7th. Deutsche Bank Aktiengesellschaft dropped 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. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Guggenheim dropped 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Insider Activity at Nexstar Media Group

In related news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,903 shares of company stock valued at $7,833,240. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock opened at $169.75 on Friday. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86. The business has a fifty day moving average price of $168.98 and a 200-day moving average price of $167.17. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $5.27 billion, a P/E ratio of 9.82, a PEG ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $0.70 earnings per share. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is 39.10%.

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.