Glassy Mountain Advisors Inc. Has $3.23 Million Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Glassy Mountain Advisors Inc. increased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,424 shares of the company’s stock after purchasing an additional 493 shares during the quarter. Glassy Mountain Advisors Inc.’s holdings in Nexstar Media Group were worth $3,226,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $25,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $30,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at approximately $44,000. Finally, UMB Bank n.a. boosted its holdings 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 valued at $49,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NXST shares. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.29.

Insider Buying and Selling

In related news, Director John R. Muse sold 2,385 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $170.16, for a total value of $405,831.60. Following the completion of the transaction, the director now owns 25,978 shares of the company’s stock, valued at $4,420,416.48. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Thomas Mcmillen sold 750 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares of the company’s stock, valued at approximately $1,115,511.75. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,209 shares of company stock worth $21,499,239. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Down 1.4 %

NXST opened at $151.65 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $147.25 and a fifty-two week high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market capitalization of $4.70 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.25 and a beta of 1.45. The stock has a fifty day moving average of $159.36 and a 200-day moving average of $165.71.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.70 EPS. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $1.86 per share. The ex-dividend date is Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.91%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 39.10%.

Nexstar Media Group 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.