Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,115 shares of the company’s stock after buying an additional 3,680 shares during the period. Parcion Private Wealth LLC owned about 0.10% of Nexstar Media Group worth $5,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors purchased a new stake in Nexstar Media Group during the 1st quarter worth about $92,323,000. Vanguard Group Inc. grew its position in shares of Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after buying an additional 127,783 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in shares of Nexstar Media Group during the first quarter worth about $15,144,000. Copeland Capital Management LLC increased its stake in shares of Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock worth $32,769,000 after acquiring an additional 83,637 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $170.93 on Friday. The stock has a 50 day moving average of $167.03 and a two-hundred day moving average of $165.93. The stock has a market cap of $5.51 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.19 and a beta of 1.49. Nexstar Media Group, Inc. has a twelve month low of $133.55 and a twelve month high of $187.27. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. Nexstar Media Group’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 earnings per share. On average, research analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the transaction, the insider now directly owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the sale, the insider now directly owns 10,684 shares in the company, valued at $1,715,957.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jay M. Grossman sold 10,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the sale, the director now directly owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,112 shares of company stock worth $6,887,029 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on NXST shares. Barrington Research reissued an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Guggenheim lowered their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.71.

About Nexstar Media Group

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.