Ritholtz Wealth Management Acquires 8,799 Shares of Nexstar Media Group, Inc. $NXST

Ritholtz Wealth Management boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 95.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,987 shares of the company’s stock after purchasing an additional 8,799 shares during the period. Ritholtz Wealth Management owned about 0.06% of Nexstar Media Group worth $3,557,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its holdings in shares of Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Allworth Financial LP boosted its stake in Nexstar Media Group by 617.2% in the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after buying an additional 179 shares in the last quarter. LRI Investments LLC bought a new stake in Nexstar Media Group in the second quarter valued at $43,000. Caldwell Trust Co acquired a new position in Nexstar Media Group during the second quarter worth $44,000. Finally, First Horizon Corp bought a new position in shares of Nexstar Media Group during the third quarter valued at $44,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NXST. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup dropped their price objective on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a report on Tuesday, November 25th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Down 0.9%

Shares of NASDAQ NXST opened at $216.32 on Friday. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36. The firm’s 50-day simple moving average is $198.88 and its 200 day simple moving average is $196.58. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 0.83 and a beta of 0.84.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $5.27 earnings per share. The company’s revenue was down 12.3% on a year-over-year basis. On average, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, November 12th. Nexstar Media Group’s payout ratio is 46.13%.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.