Valley Wealth Managers Inc. Invests $21.38 Million in Nexstar Media Group, Inc. $NXST

Valley Wealth Managers Inc. purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the third quarter, Holdings Channel reports. The institutional investor purchased 108,120 shares of the company’s stock, valued at approximately $21,380,000. Nexstar Media Group comprises 1.4% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Claret Asset Management Corp lifted its position in Nexstar Media Group by 4.1% during the 2nd quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after acquiring an additional 53 shares during the period. Merit Financial Group LLC raised its stake in shares of Nexstar Media Group by 1.7% during the third quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock worth $695,000 after purchasing an additional 59 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Nexstar Media Group by 0.6% during the third quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock worth $2,222,000 after purchasing an additional 68 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after purchasing an additional 80 shares during the period. Finally, Blue Trust Inc. grew its position in Nexstar Media Group by 7.3% in the 2nd quarter. Blue Trust Inc. now owns 1,195 shares of the company’s stock valued at $207,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NXST. Citigroup cut their price objective on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.38.

Nexstar Media Group Stock Down 0.2%

Shares of NASDAQ NXST opened at $206.97 on Friday. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The firm has a 50-day moving average price of $203.36 and a 200 day moving average price of $198.52. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 2.76.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, November 6th. The company reported $2.14 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company posted $5.27 earnings per share. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.