Nisa Investment Advisors LLC Cuts Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Nisa Investment Advisors LLC reduced its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 73.4% during the second quarter, Holdings Channel reports. The fund owned 1,328 shares of the company’s stock after selling 3,659 shares during the period. Nisa Investment Advisors LLC’s holdings in Nexstar Media Group were worth $220,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NXST. Quadrant Capital Group LLC boosted its stake in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares in the last quarter. Personal CFO Solutions LLC boosted its position in Nexstar Media Group by 7.1% during the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock valued at $481,000 after buying an additional 202 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Nexstar Media Group during the fourth quarter valued at about $232,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Nexstar Media Group in the first quarter worth about $2,111,000. Finally, Vanguard Group Inc. lifted its stake in shares of Nexstar Media Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $171.55 on Friday. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.65 and a beta of 1.50. The stock has a fifty day moving average of $168.21 and a 200 day moving average of $165.73. Nexstar Media Group, Inc. has a 52 week low of $132.30 and a 52 week high of $187.27. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.54 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.94). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.64 earnings per share. As a group, research analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 3.94%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Sean Compton sold 3,930 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 owns 10,684 shares of the company’s stock, valued at approximately $1,715,957.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sean Compton sold 3,930 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of 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. In the last three months, insiders have sold 12,934 shares of company stock valued at $2,073,427. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Two investment 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 stock. According to MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

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.