Impact Partnership Wealth LLC Buys New Stake in Nexstar Media Group, Inc. $NXST

Impact Partnership Wealth LLC bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, HoldingsChannel reports. The institutional investor bought 2,743 shares of the company’s stock, valued at approximately $542,000.

Other large investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Nexstar Media Group in the first quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Nexstar Media Group by 49.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company’s stock worth $2,844,000 after acquiring an additional 5,251 shares in the last quarter. Millennium Management LLC boosted its holdings in Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock valued at $13,020,000 after acquiring an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company’s stock valued at $23,802,000 after acquiring an additional 16,637 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Nexstar Media Group in the 1st quarter valued at about $654,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Trading Up 2.6%

NASDAQ NXST opened at $212.38 on Friday. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The firm has a 50 day moving average of $203.82 and a two-hundred day moving average of $198.72. 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 stock has a market capitalization of $6.44 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

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

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $1.86 dividend. The ex-dividend date is Friday, February 13th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.5%. Nexstar Media Group’s dividend payout ratio is presently 46.13%.

Analyst Ratings Changes

NXST has been the topic of several research reports. Citigroup reduced their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.38.

About Nexstar Media Group

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.