Covestor Ltd Trims Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Covestor Ltd decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634 shares of the company’s stock after selling 147 shares during the quarter. Covestor Ltd’s holdings in Nexstar Media Group were worth $105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Nexstar Media Group by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock worth $580,689,000 after purchasing an additional 127,783 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nexstar Media Group by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after buying an additional 62,331 shares during the period. Copeland Capital Management LLC raised its position in shares of Nexstar Media Group by 18.1% in the 3rd quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock worth $90,567,000 after buying an additional 83,829 shares during the period. Capital Research Global Investors purchased a new stake in Nexstar Media Group during the first quarter valued at about $92,323,000. Finally, Bank of New York Mellon Corp increased its stake in Nexstar Media Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 418,815 shares of the company’s stock worth $69,528,000 after acquiring an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 250 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the transaction, the director now owns 7,725 shares of the company’s stock, valued at $1,270,299. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 674,694 shares in the company, valued at $128,380,774.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles Thomas Mcmillen sold 250 shares of Nexstar Media Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the completion of the transaction, the director now owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,367 shares of company stock valued at $9,060,758 over the last three months. 6.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Guggenheim reduced their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $168.18 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a fifty-two week low of $140.92 and a fifty-two week high of $191.86. The business has a 50 day moving average price of $168.57 and a two-hundred day moving average price of $167.12. The firm has a market cap of $5.43 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 25.72% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.02%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

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.