Greenwood Capital Associates LLC Makes New Investment in Nexstar Media Group, Inc. $NXST

Greenwood Capital Associates LLC bought a new stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) in the third quarter, HoldingsChannel.com reports. The firm bought 4,472 shares of the company’s stock, valued at approximately $884,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Allworth Financial LP boosted its position in Nexstar Media Group by 617.2% in the second quarter. Allworth Financial LP now owns 208 shares of the company’s stock worth $36,000 after purchasing an additional 179 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $43,000. Caldwell Trust Co purchased a new stake in shares of Nexstar Media Group during the 2nd quarter valued at about $44,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Nexstar Media Group by 70.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 273 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NXST has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Citigroup dropped 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research report on Monday, December 22nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.38.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $204.95 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 2.76. Nexstar Media Group, Inc. has a 12 month low of $141.66 and a 12 month high of $223.36. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.63 and a beta of 0.85. The company’s 50 day moving average is $194.37 and its two-hundred day moving average is $192.80.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company earned $5.27 earnings per share. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, November 12th. Nexstar Media Group’s payout ratio is presently 46.13%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.