First Trust Advisors LP Buys 54,559 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

First Trust Advisors LP raised its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 36.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,508 shares of the company's stock after purchasing an additional 54,559 shares during the quarter. First Trust Advisors LP owned 0.66% of Nexstar Media Group worth $32,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NXST. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $33,000. Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Nexstar Media Group by 99.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock valued at $124,000 after purchasing an additional 392 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Nexstar Media Group by 31.0% during the fourth quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of NXST stock traded down $0.54 during trading hours on Wednesday, reaching $149.66. The stock had a trading volume of 906,257 shares, compared to its average volume of 377,675. The stock's fifty day simple moving average is $163.06 and its 200 day simple moving average is $162.87. The firm has a market capitalization of $4.57 billion, a PE ratio of 8.66, a PEG ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $191.86. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.48 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. On average, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 1,241 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares of the company's stock, valued at approximately $704,409.75. This trade represents a 23.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total value of $339,020.00. Following the completion of the sale, the director now directly owns 4,975 shares of the company's stock, valued at approximately $843,312.25. This represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock worth $6,722,463 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on NXST shares. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $190.00 to $200.00 in a research note on Friday, February 28th. 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, March 5th. Benchmark increased their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Monday, March 10th. Finally, StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $208.43.

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.