Nexstar Media Group, Inc. $NXST Shares Bought by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC increased its holdings in Nexstar Media Group, raising its position by **148.8%** in the first quarter, now owning shares worth **$532,000**.
• Nexstar Media Group reported earnings of **$3.06 per share**, surpassing estimates by **$0.11**, with a revenue of **$1.23 billion** for the quarter.
• Several brokerages have issued Buy ratings on Nexstar, with the consensus target price set at **$225.00**, indicating a positive outlook for the stock.

Belpointe Asset Management LLC lifted its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 148.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,966 shares of the company's stock after buying an additional 1,774 shares during the period. Belpointe Asset Management LLC's holdings in Nexstar Media Group were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd lifted its position in shares of Nexstar Media Group by 97.2% in the first quarter. Bayforest Capital Ltd now owns 2,777 shares of the company's stock valued at $498,000 after acquiring an additional 1,369 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Nexstar Media Group by 14.3% in the first 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 during the last quarter. Empowered Funds LLC increased its stake in Nexstar Media Group by 158.7% during the first quarter. Empowered Funds LLC now owns 66,156 shares of the company's stock worth $11,856,000 after acquiring an additional 40,581 shares during the last quarter. United Services Automobile Association bought a new stake in Nexstar Media Group during the first quarter worth approximately $338,000. Finally, Caxton Associates LLP bought a new stake in Nexstar Media Group during the first quarter worth approximately $3,504,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NXST has been the subject of several recent analyst reports. Benchmark boosted their target price on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Barrington Research restated an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Zacks Research raised Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company increased their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Guggenheim raised their target price on Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $225.00.

Nexstar Media Group Stock Up 0.2%

NXST traded up $0.48 on Thursday, hitting $206.40. 348,393 shares of the company were exchanged, compared to its average volume of 294,478. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm has a 50-day moving average price of $196.98 and a two-hundred day moving average price of $177.60. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned $3.54 EPS. The business's quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is 38.63%.

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.