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Cambridge Investment Research Advisors Inc. Grows Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Defense World · Sep 29, 2022 04:41

Cambridge Investment Research Advisors Inc. grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) by 16.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,756 shares of the company's stock after acquiring an additional 2,422 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Nexstar Media Group were worth $2,729,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NXST. Simcoe Capital Management LLC purchased a new position in Nexstar Media Group during the fourth quarter worth approximately $44,073,000. Glenmede Trust Co. NA lifted its position in Nexstar Media Group by 150.5% during the fourth quarter. Glenmede Trust Co. NA now owns 287,862 shares of the company's stock worth $43,460,000 after buying an additional 172,950 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Nexstar Media Group by 32.1% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 662,488 shares of the company's stock worth $124,866,000 after buying an additional 161,170 shares in the last quarter. Provident Investment Management Inc. lifted its position in Nexstar Media Group by 7,957.5% during the first quarter. Provident Investment Management Inc. now owns 138,508 shares of the company's stock worth $26,106,000 after buying an additional 136,789 shares in the last quarter. Finally, Boston Financial Mangement LLC purchased a new position in Nexstar Media Group during the first quarter worth approximately $17,275,000. Hedge funds and other institutional investors own 92.01% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have commented on NXST. Rosenblatt Securities upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and lifted their target price for the company from $181.00 to $246.00 in a research report on Tuesday, September 6th. Barrington Research lifted their target price on Nexstar Media Group to $240.00 in a research report on Monday, August 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $223.43.

Nexstar Media Group Trading Up 1.2 %

Shares of NASDAQ NXST opened at $170.44 on Thursday. Nexstar Media Group, Inc. has a twelve month low of $139.69 and a twelve month high of $204.62. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.48. The stock has a fifty day simple moving average of $190.54 and a 200-day simple moving average of $178.22. The stock has a market capitalization of $6.89 billion, a PE ratio of 7.88, a PEG ratio of 0.65 and a beta of 1.47.

Nexstar Media Group (NASDAQ:NXST – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates of $5.46 by $0.10. Nexstar Media Group had a return on equity of 32.36% and a net margin of 18.79%. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm posted $4.51 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that Nexstar Media Group, Inc. will post 26.28 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $3.60 annualized dividend and a yield of 2.11%. Nexstar Media Group's payout ratio is 16.64%.

Insider Buying and Selling

In related news, COO Thomas Carter sold 5,000 shares of the business's stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $201.31, for a total transaction of $1,006,550.00. Following the completion of the transaction, the chief operating officer now directly owns 87,277 shares of the company's stock, valued at approximately $17,569,732.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gary Weitman sold 192 shares of the business's stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $191.07, for a total transaction of $36,685.44. Following the completion of the transaction, the insider now directly owns 3,216 shares of the company's stock, valued at approximately $614,481.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Carter sold 5,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $201.31, for a total value of $1,006,550.00. Following the sale, the chief operating officer now directly owns 87,277 shares of the company's stock, valued at $17,569,732.87. The disclosure for this sale can be found here. Insiders sold 17,633 shares of company stock valued at $3,257,923 in the last three months. 5.00% of the stock is owned by corporate insiders.

About Nexstar Media Group

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Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.