Glassy Mountain Advisors Inc. Has $3.23 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Glassy Mountain Advisors Inc. increased its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,424 shares of the company’s stock after buying an additional 493 shares during the period. Glassy Mountain Advisors Inc. owned 0.07% of Nexstar Media Group worth $3,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after purchasing an additional 1,202,453 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after purchasing an additional 7,117 shares during the period. Copeland Capital Management LLC lifted its position in Nexstar Media Group by 18.1% during the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after purchasing an additional 83,829 shares during the period. New York State Common Retirement Fund lifted its position in Nexstar Media Group by 6.1% during the 3rd quarter. New York State Common Retirement Fund now owns 189,673 shares of the company’s stock valued at $31,362,000 after purchasing an additional 10,938 shares during the period. Finally, Capital Management Corp VA lifted its position in Nexstar Media Group by 2.7% during the 3rd quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock valued at $26,835,000 after purchasing an additional 4,258 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of research reports. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the company from $200.00 to $190.00 in a research report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating on shares of Nexstar Media Group in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a research note on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Insider Transactions at Nexstar Media Group

In other news, Director John R. Muse sold 2,385 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the completion of the transaction, the director now directly owns 25,978 shares of the company’s stock, valued at $4,420,416.48. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 330 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $158.23, for a total transaction of $52,215.90. Following the transaction, the chief financial officer now directly owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,209 shares of company stock valued at $21,499,239 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $151.65 on Friday. The business has a 50 day simple moving average of $159.36 and a 200 day simple moving average of $165.71. Nexstar Media Group, Inc. has a 52-week low of $147.25 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 0.25 and a beta of 1.45.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company posted $0.70 earnings per share. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.91%. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date is Wednesday, February 12th. Nexstar Media Group’s dividend payout ratio is presently 39.10%.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.