Nexstar Media Group, Inc. $NXST Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 168,200 shares of the company’s stock after selling 5,300 shares during the quarter. Nexstar Media Group comprises about 1.0% of Hennessy Advisors Inc.’s portfolio, making the stock its 26th biggest holding. Hennessy Advisors Inc.’s holdings in Nexstar Media Group were worth $27,176,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at about $63,000. Allworth Financial LP increased its holdings in Nexstar Media Group by 35.8% in the 2nd quarter. Allworth Financial LP now owns 360 shares of the company’s stock valued at $64,000 after buying an additional 95 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Nexstar Media Group during the second quarter worth about $67,000. SBI Securities Co. Ltd. raised its stake in Nexstar Media Group by 139.2% during the third quarter. SBI Securities Co. Ltd. now owns 378 shares of the company’s stock worth $61,000 after acquiring an additional 220 shares in the last quarter. Finally, Parvin Asset Management LLC bought a new stake in shares of Nexstar Media Group in the 2nd quarter worth about $80,000. 95.30% of the stock is owned by institutional investors.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Bernadette S. Aulestia sold 300 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the transaction, the director owned 4,383 shares in the company, valued at $818,744.40. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Alford sold 2,823 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $165.69, for a total transaction of $467,742.87. Following the sale, the insider owned 11,726 shares in the company, valued at $1,942,880.94. This represents a 19.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,596 shares of company stock valued at $1,733,169. 7.00% of the stock is owned by company insiders.

Nexstar Media Group Stock Performance

NXST stock opened at $171.44 on Monday. Nexstar Media Group, Inc. has a 1-year low of $153.17 and a 1-year high of $254.30. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 5.09. The firm has a market cap of $5.28 billion, a PE ratio of 32.91 and a beta of 0.94. The business’s 50-day moving average price is $167.96 and its two-hundred day moving average price is $192.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 6th. The company reported $3.61 EPS for the quarter, missing analysts’ consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a return on equity of 24.02% and a net margin of 3.20%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the previous year, the business earned $3.06 earnings per share. The company’s revenue was up 62.2% on a year-over-year basis. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 32.88 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, November 13th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 142.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Zacks Research cut shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Monday, August 24th. Wall Street Zen cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Wells Fargo & Company dropped their price target on Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $256.50.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a television broadcasting and digital media company headquartered in Irving, Texas. The company operates local television stations across the United States, with stations affiliated with major networks including ABC, NBC, CBS, FOX, The CW and MyNetworkTV. Its local media operations provide news, weather, sports, entertainment and other programming to audiences in markets nationwide.

Nexstar also owns and operates national media properties, including NewsNation, a cable and streaming news network, and The Hill, a political news and information platform.