Kingsview Wealth Management LLC Buys 2,844 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Kingsview Wealth Management LLC boosted its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 58,654 shares of the company's stock after buying an additional 2,844 shares during the period. Kingsview Wealth Management LLC owned approximately 0.19% of Nexstar Media Group worth $10,512,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of NXST. Proficio Capital Partners LLC acquired a new position in Nexstar Media Group in the 4th quarter valued at about $225,000. Raymond James Financial Inc. bought a new stake in Nexstar Media Group in the 4th quarter valued at about $8,402,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Nexstar Media Group by 9.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,002 shares of the company's stock valued at $1,264,000 after purchasing an additional 691 shares during the period. Corient Private Wealth LLC bought a new stake in Nexstar Media Group in the 4th quarter valued at about $731,000. Finally, Advisors Asset Management Inc. boosted its holdings in Nexstar Media Group by 3.3% in the 4th quarter. Advisors Asset Management Inc. now owns 22,628 shares of the company's stock valued at $3,575,000 after purchasing an additional 720 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Trading Up 0.4%

Shares of NXST traded up $0.78 during trading hours on Friday, hitting $184.85. 379,761 shares of the stock were exchanged, compared to its average volume of 376,251. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $191.86. 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 business has a 50-day moving average of $174.00 and a 200-day moving average of $164.35. The firm has a market capitalization of $5.64 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04.

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

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's payout ratio is 37.69%.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Andrew Alford sold 757 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 value of $125,094.25. Following the transaction, the insider directly owned 10,528 shares of the company's stock, valued at approximately $1,739,752. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dana Zimmer sold 889 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 $146,907.25. Following the completion of the transaction, the insider directly owned 6,201 shares in the company, valued at $1,024,715.25. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,474 shares of company stock valued at $3,666,988. 6.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of recent analyst reports. Benchmark cut their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Barrington Research reaffirmed an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Company 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.