Faithward Advisors LLC Lowers Stock Position in Nexstar Media Group, Inc. $NXST

by · The Cerbat Gem

Faithward Advisors LLC decreased its stake in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,782 shares of the company’s stock after selling 157 shares during the period. Faithward Advisors LLC owned approximately 0.07% of Nexstar Media Group worth $3,725,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NXST. Algert Global LLC raised its position in shares of Nexstar Media Group by 61.2% during the 4th quarter. Algert Global LLC now owns 5,424 shares of the company’s stock worth $857,000 after purchasing an additional 2,059 shares during the last quarter. Crestline Management LP acquired a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $435,000. Deutsche Bank AG boosted its stake in shares of Nexstar Media Group by 7.9% during the 4th quarter. Deutsche Bank AG now owns 3,451 shares of the company’s stock worth $545,000 after purchasing an additional 252 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Nexstar Media Group by 7.3% during the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company’s stock worth $273,000 after purchasing an additional 117 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of Nexstar Media Group by 1.2% during the 4th quarter. Gotham Asset Management LLC now owns 49,915 shares of the company’s stock worth $7,885,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, insider Sean Compton sold 850 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $140,462.50. Following the sale, the insider owned 15,272 shares of the company’s stock, valued at $2,523,698. The trade was a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dana Zimmer sold 889 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $146,907.25. Following the completion of the transaction, the insider directly owned 6,201 shares of the company’s stock, valued at $1,024,715.25. This trade represents a 12.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,209 shares of company stock valued at $860,787 in the last quarter. Insiders own 6.70% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent analyst reports. Barrington Research restated an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Guggenheim lifted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Benchmark lifted their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Wells Fargo & Company lifted their price target on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded shares of Nexstar Media Group to a “hold” rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Get Our Latest Report on NXST

Nexstar Media Group Trading Up 0.8%

NASDAQ:NXST opened at $208.27 on Monday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.55 and a beta of 1.04. The business has a fifty day moving average of $192.57 and a 200-day moving average of $174.90. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.54 earnings per share. Equities analysts predict that Nexstar Media Group, Inc. will post 21.62 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, August 29th. Stockholders of record on Friday, August 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 38.63%.

Nexstar Media Group Profile

(Free Report)

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.

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