Buckley Wealth Management LLC Acquires 117 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Buckley Wealth Management LLC grew its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,801 shares of the company’s stock after acquiring an additional 117 shares during the period. Buckley Wealth Management LLC’s holdings in Nexstar Media Group were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NXST. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $476,000. Envestnet Asset Management Inc. lifted its holdings in Nexstar Media Group by 21.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 135,089 shares of the company’s stock worth $19,368,000 after purchasing an additional 23,979 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $1,811,000. LPL Financial LLC lifted its holdings in Nexstar Media Group by 11.3% during the 3rd quarter. LPL Financial LLC now owns 28,775 shares of the company’s stock worth $4,099,000 after purchasing an additional 2,930 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Nexstar Media Group by 8.3% during the 3rd quarter. Stifel Financial Corp now owns 25,459 shares of the company’s stock worth $3,650,000 after purchasing an additional 1,959 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Benchmark reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Thursday, June 20th. Wells Fargo & Company raised Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Finally, Rosenblatt Securities dropped their price objective on Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of “Moderate Buy” and an average price target of $206.00.

Nexstar Media Group Price Performance

Shares of NXST traded up $5.60 during midday trading on Friday, hitting $165.40. The company’s stock had a trading volume of 158,073 shares, compared to its average volume of 353,006. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year high of $187.32. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s fifty day simple moving average is $161.59 and its two-hundred day simple moving average is $164.14.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. Nexstar Media Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.97 EPS. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $1.69 per share. The ex-dividend date was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a yield of 4.09%. Nexstar Media Group’s dividend payout ratio is currently 57.19%.

Insider Buying and Selling

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 326 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the transaction, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at approximately $873,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gary Weitman sold 432 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,329.76. Following the transaction, the insider now directly owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the completion of the transaction, the chief financial officer now directly owns 5,462 shares in the company, valued at $873,920. The disclosure for this sale can be found here. Insiders have sold 6,826 shares of company stock worth $1,080,597 in the last 90 days. Insiders own 5.90% of the company’s stock.

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.