Abich Financial Wealth Management LLC holds $50,000 position in Nexstar Media Group, Inc. (NASDAQ:NXST)

VaselineSeptember 26, 2024

0 4 minutes read

Abich Financial Wealth Management LLC bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 302 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC boosted its stake in Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock valued at $481,000 after purchasing an additional 202 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Nexstar Media Group in the 4th quarter valued at $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Nexstar Media Group in the first quarter worth $2,111,000. Vanguard Group Inc. boosted its position in Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after buying an additional 127,783 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Nexstar Media Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 30,384 shares of the company’s stock valued at $5,235,000 after acquiring an additional 16,338 shares in the last quarter. 95.30% of shares are held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several research firms have recently commented on NXST. Barrington Research reiterated an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark restated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, August 9th. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $201.67, based on data from MarketBeat.com.

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Check out our latest report on Nexstar Media Group

Nexstar Media Group Price Performance

NXST opened at $162.54 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78, and a debt-to-equity ratio of 2.92. The company’s 50-day moving average price is $168.94 and its 200-day moving average price is $165.90. Nexstar Media Group, Inc. it has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.19 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST – Get Your Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted EPS of $2.64. The company’s revenue for the quarter was up 2.3% year over year. As a group, sell-side analysts expect that Nexstar Media Group, Inc. to post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $1.69 dividend. The ex-dividend date was Friday, August 9. This represents an annualized dividend of $6.76 and a yield of 4.16%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. In other news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the sale, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. The disclosure for this sale can be found here. Insiders have sold 33,601 shares of company stock worth $5,649,306 over the last ninety days. Company insiders own 5.90% of the company’s shares.

Nexstar Media Group Company Profile

(Free Report)

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes compelling local and national news, sports and entertainment content across television and digital platforms in the United States. Own, operate, schedule or provide sales and other services in various markets; and provides television programming services.