Schubert & Co Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Schubert & Co acquired a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 2,224 shares of the company’s stock, valued at approximately $368,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NXST. Whittier Trust Co. bought a new stake in Nexstar Media Group in the 2nd quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Nexstar Media Group by 3,700.0% in 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 during the last quarter. UMB Bank n.a. lifted its position in shares of Nexstar Media Group by 117.8% in the third quarter. UMB Bank n.a. now owns 294 shares of the company’s stock worth $49,000 after buying an additional 159 shares in the last quarter. GAMMA Investing LLC boosted 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 valued at $49,000 after buying an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in Nexstar Media Group during the 2nd quarter valued at approximately $49,000. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Up 0.7 %

NASDAQ NXST traded up $1.14 during trading on Friday, hitting $173.47. The stock had a trading volume of 197,926 shares, compared to its average volume of 286,366. Nexstar Media Group, Inc. has a one year low of $133.55 and a one year high of $187.27. The stock has a 50 day simple moving average of $165.92 and a 200 day simple moving average of $165.85. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. Nexstar Media Group’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.90%. The ex-dividend date was Friday, August 9th. Nexstar Media Group’s dividend payout ratio is presently 53.14%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the completion of the sale, the director now directly owns 7,725 shares of the company’s stock, valued at $1,270,299. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the transaction, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 41,112 shares of company stock worth $6,887,029 in the last 90 days. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on NXST shares. Guggenheim decreased their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barrington Research reiterated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark reduced their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, October 14th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company reduced their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Two investment 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’s stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

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.