Cresset Asset Management LLC Buys 9,600 Shares of Nexstar Media Group, Inc. $NXST

Cresset Asset Management LLC raised its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 340.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,423 shares of the company’s stock after purchasing an additional 9,600 shares during the quarter. Cresset Asset Management LLC’s holdings in Nexstar Media Group were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. IFP Advisors Inc increased its holdings in shares of Nexstar Media Group by 375.0% in the 2nd quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Allworth Financial LP increased its stake in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock valued at $36,000 after acquiring an additional 179 shares during the last quarter. LRI Investments LLC bought a new position in Nexstar Media Group in the second quarter valued at $43,000. Parkside Financial Bank & Trust raised its position in Nexstar Media Group by 70.6% during the second quarter. Parkside Financial Bank & Trust now owns 273 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Nexstar Media Group by 2,293.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company’s stock worth $69,000 after purchasing an additional 367 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Up 3.7%

Shares of NASDAQ NXST opened at $195.91 on Tuesday. The firm has a fifty day simple moving average of $192.53 and a two-hundred day simple moving average of $189.63. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $5.94 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.48). Nexstar Media Group had a net margin of 10.02% and a return on equity of 22.99%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $5.27 EPS. Nexstar Media Group’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group’s dividend payout ratio is currently 46.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NXST. Guggenheim increased their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Citigroup decreased their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 25th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a report on Monday, December 1st. Barrington Research reaffirmed an “outperform” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and an average target price of $222.38.

Nexstar Media Group Profile

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.