Tributary Capital Management LLC Sells 1,448 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Tributary Capital Management LLC lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,947 shares of the company’s stock after selling 1,448 shares during the period. Tributary Capital Management LLC’s holdings in Nexstar Media Group were worth $508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. bought a new position in shares of Nexstar Media Group during the first quarter valued at approximately $207,000. Buckley Wealth Management LLC increased its position in Nexstar Media Group by 4.4% during the 1st quarter. Buckley Wealth Management LLC now owns 2,801 shares of the company’s stock valued at $483,000 after purchasing an additional 117 shares during the period. Signet Financial Management LLC increased its position in Nexstar Media Group by 4.3% during the 1st quarter. Signet Financial Management LLC now owns 2,716 shares of the company’s stock valued at $468,000 after purchasing an additional 113 shares during the period. Global Assets Advisory LLC purchased a new position in Nexstar Media Group during the 1st quarter valued at $14,421,000. Finally, &PARTNERS increased its position in Nexstar Media Group by 3.9% during the 1st quarter. &PARTNERS now owns 9,410 shares of the company’s stock valued at $1,621,000 after purchasing an additional 355 shares during the period. Institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Trading Down 0.3 %

NXST stock traded down $0.45 during midday trading on Tuesday, reaching $165.88. The company’s stock had a trading volume of 8,702 shares, compared to its average volume of 354,381. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.60 and a beta of 1.50. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year high of $187.32. The stock has a fifty day simple moving average of $161.71 and a two-hundred day simple moving average of $164.57.

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

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, May 9th. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, May 9th. Benchmark reiterated a “buy” rating and issued a $225.00 price target on shares of Nexstar Media Group in a research note on Thursday, June 20th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Finally, Rosenblatt Securities dropped their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.67.

Insiders Place Their Bets

In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the sale, the executive vice president now owns 25,537 shares of the company’s stock, valued at $4,275,659.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lee Ann Gliha sold 326 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the transaction, the chief financial officer now owns 5,462 shares of the company’s stock, valued at $873,920. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,826 shares of company stock valued at $1,080,597. 5.90% of the stock is currently owned by corporate insiders.

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.