Foster & Motley Inc. Sells 439 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

06 Nov 2024, 14:46 by Kim Johansen · The Markets Daily

Foster & Motley Inc. cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,905 shares of the company’s stock after selling 439 shares during the period. Foster & Motley Inc. owned approximately 0.12% of Nexstar Media Group worth $6,263,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Nexstar Media Group in the 1st quarter worth about $2,111,000. Vanguard Group Inc. increased its stake in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after acquiring an additional 127,783 shares during the last quarter. BNP Paribas Financial Markets raised its position in Nexstar Media Group by 116.3% during the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock valued at $5,235,000 after purchasing an additional 16,338 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of Nexstar Media Group in the 2nd quarter valued at approximately $570,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Nexstar Media Group by 17.4% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 98,272 shares of the company’s stock worth $16,932,000 after purchasing an additional 14,574 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock worth $6,887,029 in the last three months. Corporate insiders own 6.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NASDAQ:NXST opened at $172.87 on Wednesday. The firm’s 50 day simple moving average is $167.96 and its 200-day simple moving average is $166.64. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78. Nexstar Media Group, Inc. has a one year low of $140.92 and a one year high of $187.27. The firm has a market cap of $5.58 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business earned $2.64 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Nexstar Media Group, Inc. will post 25.72 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 53.14%.

Wall Street Analyst Weigh In

NXST has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Benchmark lowered their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating for the company in a report on Monday, October 14th. StockNews.com downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Wells Fargo & Company cut their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Nexstar Media Group currently has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Check Out Our Latest Stock Report on NXST

Nexstar Media Group Company Profile

(Free Report)