Nexstar Media Group, Inc. $NXST Shares Acquired by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Nexstar Media Group by 63.0% during the 2nd quarter, acquiring a total of 9,411 shares valued at approximately $1.7 million.
• Nexstar Media Group reported $3.06 earnings per share for the last quarter, exceeding analysts' expectations, and posted revenue of $1.23 billion, despite a 3.2% year-over-year decline.
• The company declared a quarterly dividend of $1.86, resulting in an annualized yield of 3.8%, and maintains a payout ratio of 38.63%.

Wealth Enhancement Advisory Services LLC grew its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 63.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,411 shares of the company's stock after purchasing an additional 3,637 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Nexstar Media Group were worth $1,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pallas Capital Advisors LLC acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at about $432,000. Baron Wealth Management LLC acquired a new position in Nexstar Media Group during the 2nd quarter worth approximately $247,000. Harbor Capital Advisors Inc. lifted its position in Nexstar Media Group by 3.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,812 shares of the company's stock worth $1,870,000 after acquiring an additional 400 shares in the last quarter. Lynx Investment Advisory acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $311,000. Finally, Strs Ohio acquired a new position in Nexstar Media Group during the 1st quarter worth approximately $1,222,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $198.10 on Tuesday. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. 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 company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. The business has a 50 day simple moving average of $199.63 and a 200-day simple moving average of $179.12.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates 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. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's payout ratio is 38.63%.

Analyst Upgrades and Downgrades

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

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.

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