Arkadios Wealth Advisors Makes New Investment in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• Arkadios Wealth Advisors has invested approximately $340,000 to purchase 1,897 shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the first quarter.
• Several institutional investors have increased their stakes in Nexstar Media Group, with notable increases including Whipplewood Advisors LLC at 830.3%.
• Nexstar Media Group recently announced a quarterly dividend of $1.86 per share, representing a yield of 4.0%, payable on August 29th to shareholders of record on August 15th.

Arkadios Wealth Advisors acquired a new position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,897 shares of the company's stock, valued at approximately $340,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new position in Nexstar Media Group in the first quarter valued at $323,000. Crossmark Global Holdings Inc. acquired a new stake in Nexstar Media Group during the first quarter worth approximately $219,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Nexstar Media Group by 1.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after acquiring an additional 624 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Nexstar Media Group in the first quarter valued at about $218,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Nexstar Media Group by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,002 shares of the company's stock valued at $14,159,000 after acquiring an additional 294 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, July 30th. Finally, Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Dana Zimmer sold 1,151 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total transaction of $202,035.03. Following the completion of the transaction, the insider owned 3,141 shares of the company's stock, valued at approximately $551,339.73. This trade represents a 26.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares of the company's stock, valued at $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Trading Down 1.3%

NXST traded down $2.47 during trading on Thursday, hitting $184.52. 466,053 shares of the stock traded hands, compared to its average volume of 417,225. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $194.00. The firm has a market capitalization of $5.63 billion, a P/E ratio of 9.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a 50-day moving average of $178.01 and a 200 day moving average of $167.33.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. The company 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 29.21% and a net margin of 12.21%. The firm's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.54 earnings per share. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Nexstar Media Group Profile

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.