Western Wealth Management LLC Invests $1.23 Million in Nexstar Media Group, Inc. $NXST

Western Wealth Management LLC acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,796 shares of the company’s stock, valued at approximately $1,229,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXST. Integrated Wealth Concepts LLC purchased a new stake in shares of Nexstar Media Group in the first quarter valued at $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 5,251 shares in the last quarter. Millennium Management LLC increased its position in Nexstar Media Group by 571.4% during the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company’s stock worth $13,020,000 after purchasing an additional 61,830 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Nexstar Media Group by 14.3% during 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 worth $23,802,000 after purchasing 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. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In related news, CEO Perry A. Sook purchased 12,235 shares of the business’s stock in a transaction on Friday, June 26th. The shares were bought at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the purchase, the chief executive officer directly owned 899,044 shares in the company, valued at approximately $145,878,879.44. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Dana Zimmer sold 915 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total transaction of $161,424.30. Following the sale, the insider directly owned 5,738 shares of the company’s stock, valued at $1,012,297.96. This represents a 13.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,813 shares of company stock valued at $4,174,731 in the last ninety days. 7.00% of the stock is owned by company insiders.

Nexstar Media Group Stock Up 0.3%

NXST opened at $185.14 on Thursday. The company has a debt-to-equity ratio of 5.53, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91. The business has a 50-day moving average of $179.59 and a two-hundred day moving average of $200.19. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, August 6th. The company reported $3.61 earnings per share for the quarter, missing the consensus estimate of $5.98 by ($2.37). The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Nexstar Media Group had a return on equity of 24.26% and a net margin of 3.20%.The company’s revenue was up 62.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.06 earnings per share. On average, research analysts expect that Nexstar Media Group, Inc. will post 37.46 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $7.44 annualized dividend and a yield of 4.0%. Nexstar Media Group’s dividend payout ratio is 142.80%.

Analyst Ratings Changes

Several equities research analysts have issued reports on NXST shares. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating on the stock in a research note on Friday, August 7th. Barrington Research reissued an “outperform” rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Finally, Wall Street Zen downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Nexstar Media Group 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.