Nexstar Media Group, Inc. (NASDAQ:NXST) Stock Position Lowered by Klein Pavlis & Peasley Financial Inc.

Klein Pavlis & Peasley Financial Inc. lessened its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 49.1% in the 3rd quarter, Holdings Channel reports. The fund owned 7,083 shares of the company’s stock after selling 6,820 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Nexstar Media Group were worth $1,171,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NXST. Whittier Trust Co. purchased a new stake in Nexstar Media Group in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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. Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group during the 2nd quarter valued at $49,000. Finally, Quarry LP raised its holdings in shares of Nexstar Media Group by 77.8% during the 2nd quarter. Quarry LP now owns 297 shares of the company’s stock valued at $49,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,112 shares of company stock worth $6,887,029. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Benchmark cut their price target 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $170.93 on Monday. 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 firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 0.19 and a beta of 1.49. The company’s fifty day moving average is $167.03 and its two-hundred day moving average is $165.93. Nexstar Media Group, Inc. has a 52-week low of $133.55 and a 52-week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly 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 company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 earnings per share. Equities research analysts forecast that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

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.