Park Avenue Securities LLC Lowers Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Park Avenue Securities LLC trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,656 shares of the company’s stock after selling 67 shares during the period. Park Avenue Securities LLC’s holdings in Nexstar Media Group were worth $285,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. increased its position in shares of Nexstar Media Group by 392.6% during the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after acquiring an additional 358,920 shares in the last quarter. Norges Bank bought a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $51,812,000. International Assets Investment Management LLC increased its position in shares of Nexstar Media Group by 15,107.2% during the fourth quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock valued at $19,213,000 after acquiring an additional 121,764 shares in the last quarter. LSV Asset Management increased its position in shares of Nexstar Media Group by 5.5% during the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock valued at $217,021,000 after acquiring an additional 72,462 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Nexstar Media Group by 103.1% during the third quarter. AQR Capital Management LLC now owns 142,146 shares of the company’s stock valued at $20,219,000 after acquiring an additional 72,145 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXST has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Benchmark reaffirmed a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Thursday, June 20th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Finally, Rosenblatt Securities cut their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $203.67.

Insider Activity at Nexstar Media Group

In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 1,475 shares of Nexstar Media Group stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total transaction of $244,968.00. Following the transaction, the director now owns 6,175 shares in the company, valued at approximately $1,025,544. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,826 shares of company stock worth $1,080,597. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Trading Up 0.2 %

Shares of NXST stock opened at $166.33 on Tuesday. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The firm has a fifty day moving average price of $161.71 and a 200-day moving average price of $164.57. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.60 and a beta of 1.50.

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

Nexstar Media Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is 57.19%.

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.