Genesee Capital Advisors LLC Raises Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Genesee Capital Advisors LLC boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,302 shares of the company’s stock after buying an additional 408 shares during the period. Genesee Capital Advisors LLC’s holdings in Nexstar Media Group were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Nexstar Media Group by 27,180.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the period. KBC Group NV raised its stake in shares of Nexstar Media Group by 1,801.8% during the 4th quarter. KBC Group NV now owns 17,230 shares of the company’s stock worth $2,722,000 after buying an additional 16,324 shares during the period. Blue Trust Inc. raised its stake in shares of Nexstar Media Group by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $214,000 after buying an additional 205 shares during the period. Drive Wealth Management LLC acquired a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $208,000. Finally, Tributary Capital Management LLC raised its stake in shares of Nexstar Media Group by 46.7% during the 4th quarter. Tributary Capital Management LLC now owns 4,324 shares of the company’s stock worth $683,000 after buying an additional 1,377 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.1 %

Shares of NASDAQ:NXST opened at $157.23 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The business has a fifty day moving average of $161.57 and a two-hundred day moving average of $166.69. The stock has a market cap of $4.88 billion, a P/E ratio of 9.09, a PEG ratio of 0.26 and a beta of 1.45. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly 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). The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, research analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Friday, November 15th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

Analysts Set New Price Targets

NXST has been the subject of several research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised 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 reduced their price objective for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.29.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 37,025 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $160.14, for a total transaction of $5,929,183.50. Following the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $108,045,497.16. This represents a 5.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brett Jenkins sold 4,331 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $170.64, for a total value of $739,041.84. Following the transaction, the insider now directly owns 25,540 shares in the company, valued at approximately $4,358,145.60. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,448 shares of company stock worth $23,828,076. 6.30% of the stock is currently owned by company insiders.

Nexstar Media Group Company 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.