Oppenheimer Asset Management Inc. Sells 1,145 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Oppenheimer Asset Management Inc. lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 47.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,285 shares of the company’s stock after selling 1,145 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Nexstar Media Group were worth $213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NXST. Quadrant Capital Group LLC raised its stake in Nexstar Media Group by 41.1% in the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after buying an additional 86 shares in the last quarter. Personal CFO Solutions LLC raised its stake in Nexstar Media Group by 7.1% in the fourth quarter. Personal CFO Solutions LLC now owns 3,066 shares of the company’s stock worth $481,000 after buying an additional 202 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Nexstar Media Group in the fourth quarter worth approximately $232,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Nexstar Media Group in the first quarter worth approximately $2,111,000. Finally, Vanguard Group Inc. raised its stake in Nexstar Media Group by 3.9% in 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. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the sale, the chief financial officer now directly owns 8,107 shares of the company’s stock, valued at $1,277,906.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Nexstar Media Group news, Director Jay M. Grossman sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the sale, the director now directly owns 54,625 shares of the company’s stock, valued at $9,324,487.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. The disclosure for this sale can be found here. Insiders have sold 30,426 shares of company stock valued at $5,116,478 over the last ninety days. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

Shares of NXST opened at $166.40 on Monday. The firm has a market capitalization of $5.48 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.18 and a beta of 1.49. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.27. The company’s fifty day moving average price is $169.72 and its 200-day moving average price is $165.87.

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

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued 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 Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Friday, August 9th. Wells Fargo & Company reduced their price target on 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. Barrington Research reaffirmed 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, StockNews.com downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.