Western Wealth Management LLC Invests $1.23 Million in Nexstar Media Group, Inc. $NXST

Western Wealth Management LLC purchased a new stake in Nexstar Media Group, Inc. (NASDAQ:NXST) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,796 shares of the company’s stock, valued at approximately $1,229,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Nexstar Media Group by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,402,272 shares of the company’s stock worth $284,738,000 after buying an additional 10,949 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Nexstar Media Group by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,181,727 shares of the company’s stock worth $239,950,000 after acquiring an additional 23,360 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Nexstar Media Group by 27.1% in the 2nd quarter. Alliancebernstein L.P. now owns 882,322 shares of the company’s stock valued at $152,598,000 after acquiring an additional 187,864 shares during the period. Geode Capital Management LLC raised its stake in shares of Nexstar Media Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 773,443 shares of the company’s stock valued at $157,114,000 after acquiring an additional 13,084 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Nexstar Media Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 643,864 shares of the company’s stock valued at $116,427,000 after acquiring an additional 11,477 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Dana Zimmer sold 915 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $176.42, for a total value of $161,424.30. Following the completion of the transaction, the insider directly owned 5,738 shares of the company’s stock, valued at $1,012,297.96. This represents a 13.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Perry A. Sook bought 12,235 shares of the stock in a transaction dated Friday, June 26th. The shares were acquired at an average price of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the purchase, the chief executive officer directly owned 899,044 shares of the company’s stock, valued at approximately $145,878,879.44. This represents a 1.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,813 shares of company stock worth $4,174,731 over the last three months. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NXST shares. Zacks Research cut shares of Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Wednesday, May 27th. Citigroup raised Nexstar Media Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Wall Street Zen lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Wells Fargo & Company lowered their target price on Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

Nexstar Media Group Price Performance

Shares of NXST stock opened at $190.53 on Monday. The company has a market capitalization of $5.82 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91. The firm has a fifty day simple moving average of $178.62 and a 200-day simple moving average of $201.54. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. Nexstar Media Group, Inc. has a twelve month low of $154.47 and a twelve month high of $254.30.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $1.86 dividend. The ex-dividend date is Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. Nexstar Media Group’s payout ratio is currently 159.66%.

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.