SGL Investment Advisors Inc. Sells 7,165 Shares of Nexstar Media Group, Inc. $NXST

SGL Investment Advisors Inc. decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 30.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,170 shares of the company’s stock after selling 7,165 shares during the period. Nexstar Media Group accounts for about 1.3% of SGL Investment Advisors Inc.’s portfolio, making the stock its 28th largest position. SGL Investment Advisors Inc. owned 0.05% of Nexstar Media Group worth $3,155,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Nexstar Media Group by 375.0% during the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. Root Financial Partners LLC purchased a new position in shares of Nexstar Media Group in the 3rd quarter valued at $31,000. Allworth Financial LP raised its position in shares of Nexstar Media Group by 617.2% in the 2nd quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after acquiring an additional 179 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth $43,000. Finally, Caldwell Trust Co bought a new stake in Nexstar Media Group during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.5%

NASDAQ:NXST opened at $208.11 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. The company has a market cap of $6.31 billion, a PE ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 0.85. The company’s 50 day moving average is $204.61 and its two-hundred day moving average is $199.33.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, November 6th. The company reported $2.14 EPS 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 firm posted $5.27 earnings per share. The company’s quarterly revenue was down 12.3% on a year-over-year basis. Analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, February 13th. Nexstar Media Group’s payout ratio is presently 46.13%.

Analyst Upgrades and Downgrades

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

Nexstar Media Group Profile

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.