Inspire Advisors LLC Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Inspire Advisors LLC bought a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,288 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nexstar Media Group by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,487 shares of the company’s stock worth $1,073,000 after purchasing an additional 68 shares during the period. Jones Financial Companies Lllp grew its position in shares of Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock worth $87,000 after acquiring an additional 73 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Nexstar Media Group by 1.2% during the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company’s stock worth $1,684,000 after acquiring an additional 117 shares during the last quarter. Davis Capital Management grew its position in shares of Nexstar Media Group by 2.0% during the fourth quarter. Davis Capital Management now owns 6,270 shares of the company’s stock worth $990,000 after acquiring an additional 122 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Nexstar Media Group by 5.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,518 shares of the company’s stock worth $398,000 after acquiring an additional 137 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the completion of the transaction, the insider now directly owns 3,975 shares in the company, valued at $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the completion of the transaction, the chief financial officer now owns 8,610 shares of the company’s stock, valued at approximately $1,362,360.30. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,455 shares of company stock worth $26,158,403. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

NXST has been the subject of several recent research reports. Benchmark upped their price target on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Monday. StockNews.com lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Loop Capital upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Finally, Guggenheim increased their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Stock Performance

NASDAQ:NXST opened at $169.16 on Thursday. Nexstar Media Group, Inc. has a twelve month low of $146.04 and a twelve month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a 50-day moving average of $157.22 and a 200-day moving average of $163.76. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share for the quarter, missing the consensus estimate of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.40%. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

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.