Hancock Whitney Corp Raises Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hancock Whitney Corp lifted its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.6% during the third quarter, Holdings Channel reports. The fund owned 2,442 shares of the company’s stock after purchasing an additional 254 shares during the quarter. Hancock Whitney Corp’s holdings in Nexstar Media Group were worth $404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $455,000. Loomis Sayles & Co. L P boosted its position in Nexstar Media Group by 1.2% during the third quarter. Loomis Sayles & Co. L P now owns 74,622 shares of the company’s stock worth $12,339,000 after acquiring an additional 897 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nexstar Media Group in the 3rd quarter worth approximately $2,198,000. Cerity Partners LLC raised its holdings in Nexstar Media Group by 99.7% in the 3rd quarter. Cerity Partners LLC now owns 7,136 shares of the company’s stock valued at $1,180,000 after acquiring an additional 3,563 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Nexstar Media Group by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 49,874 shares of the company’s stock worth $8,247,000 after purchasing an additional 1,693 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay M. Grossman sold 10,000 shares of the company’s 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 owns 54,625 shares in the company, valued at approximately $9,324,487.50. This trade represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,423 shares of company stock worth $7,916,739 in the last quarter. 6.30% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

NXST opened at $171.15 on Thursday. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86. The company has a 50 day moving average of $169.09 and a two-hundred day moving average of $167.10. The company has a market cap of $5.31 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.20 and a beta of 1.48. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.95%. Nexstar Media Group’s payout ratio is currently 39.10%.

Analyst Ratings Changes

NXST has been the subject of a number of recent analyst reports. Guggenheim lowered their price objective on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Barrington Research restated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.50.

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.