Alps Advisors Inc. Purchases Shares of 2,060 Nexstar Media Group, Inc. (NASDAQ:NXST)

Alps Advisors Inc. bought a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,060 shares of the company's stock, valued at approximately $369,000.

Other large investors have also recently modified their holdings of the company. Glassy Mountain Advisors Inc. lifted its stake in shares of Nexstar Media Group by 0.4% in the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock valued at $3,674,000 after acquiring an additional 73 shares during the last quarter. Mariner LLC raised its position in Nexstar Media Group by 5.3% during the 4th quarter. Mariner LLC now owns 2,300 shares of the company's stock worth $363,000 after purchasing an additional 115 shares during the last quarter. Focus Partners Wealth raised its position in shares of Nexstar Media Group by 7.3% in the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company's stock worth $273,000 after acquiring an additional 117 shares in the last quarter. Trust Point Inc. increased its position in Nexstar Media Group by 5.4% in the 1st quarter. Trust Point Inc. now owns 2,334 shares of the company's stock valued at $418,000 after buying an additional 119 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its position in Nexstar Media Group by 9.6% in the 4th quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company's stock valued at $231,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of analyst reports. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Tuesday, May 13th. Benchmark cut their target price on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their target price 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Activity

In other news, insider Sean Compton sold 850 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $140,462.50. Following the sale, the insider directly owned 15,272 shares in the company, valued at $2,523,698. This trade represents a 5.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rachel Morgan sold 329 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $54,367.25. Following the sale, the executive vice president owned 2,122 shares in the company, valued at $350,660.50. The trade was a 13.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,474 shares of company stock valued at $3,666,988. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ:NXST traded up $3.13 during midday trading on Thursday, hitting $182.94. The company had a trading volume of 109,790 shares, compared to its average volume of 374,384. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The stock's fifty day moving average price is $173.21 and its 200-day moving average price is $163.90. The company has a market capitalization of $5.58 billion, a PE ratio of 9.27, a P/E/G ratio of 1.32 and a beta of 1.04. Nexstar Media Group, Inc. has a 52-week low of $141.66 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company earned $5.16 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, research analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

About Nexstar Media Group

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.