Global Retirement Partners LLC Has $42,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Posted by Defense World Staff on Aug 16th, 2023

Global Retirement Partners LLC boosted its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 176.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254 shares of the company’s stock after purchasing an additional 162 shares during the quarter. Global Retirement Partners LLC’s holdings in Nexstar Media Group were worth $42,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 4.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,619 shares of the company’s stock valued at $305,000 after buying an additional 62 shares during the period. Bank of Montreal Can boosted its holdings in shares of Nexstar Media Group by 11.7% in the first quarter. Bank of Montreal Can now owns 23,877 shares of the company’s stock valued at $4,522,000 after buying an additional 2,510 shares during the period. MetLife Investment Management LLC acquired a new position in shares of Nexstar Media Group in the first quarter valued at approximately $171,000. BlackRock Inc. boosted its holdings in shares of Nexstar Media Group by 0.7% in the first quarter. BlackRock Inc. now owns 1,714,944 shares of the company’s stock valued at $323,233,000 after buying an additional 12,720 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Nexstar Media Group by 19.1% in the first quarter. Great West Life Assurance Co. Can now owns 3,606 shares of the company’s stock valued at $714,000 after buying an additional 579 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NXST shares. StockNews.com started coverage on shares of Nexstar Media Group in a report on Thursday, May 18th. They issued a “hold” rating for the company. Guggenheim upped their price target on shares of Nexstar Media Group from $216.00 to $220.00 in a report on Thursday, June 29th. Barrington Research restated an “outperform” rating and set a $235.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $210.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $217.00.

Read Our Latest Report on Nexstar Media Group

Insider Activity

In related news, CFO Lee Ann Gliha sold 317 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $158.82, for a total value of $50,345.94. Following the transaction, the chief financial officer now directly owns 2,886 shares in the company, valued at $458,354.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nexstar Media Group news, CFO Lee Ann Gliha sold 317 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $158.82, for a total transaction of $50,345.94. Following the sale, the chief financial officer now directly owns 2,886 shares in the company, valued at $458,354.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Weitman sold 425 shares of the stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $158.82, for a total transaction of $67,498.50. Following the sale, the insider now owns 7,314 shares in the company, valued at $1,161,609.48. The disclosure for this sale can be found here. Insiders have sold 30,353 shares of company stock valued at $4,924,272 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $161.84 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.64. The firm’s fifty day moving average price is $171.82 and its two-hundred day moving average price is $173.63. Nexstar Media Group, Inc. has a 1 year low of $148.00 and a 1 year high of $217.76. The firm has a market capitalization of $5.68 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.49.

Nexstar Media Group (NASDAQ:NXST – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $2.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.24). Nexstar Media Group had a return on equity of 29.41% and a net margin of 13.31%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the company posted $5.56 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 13.15 EPS for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, August 9th. Nexstar Media Group’s payout ratio is presently 29.65%.

About Nexstar Media Group

(Free Report)

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.