Metis Global Partners LLC Has $247,000 Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Metis Global Partners LLC cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,496 shares of the company’s stock after selling 145 shares during the quarter. Metis Global Partners LLC’s holdings in Nexstar Media Group were worth $247,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 valued at $580,689,000 after purchasing an additional 127,783 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nexstar Media Group by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,326,476 shares of the company’s stock worth $220,189,000 after acquiring an additional 62,331 shares in the last quarter. Copeland Capital Management LLC grew its stake in Nexstar Media Group by 18.1% in the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after acquiring an additional 83,829 shares during the period. Capital Research Global Investors bought a new stake in shares of Nexstar Media Group during the first quarter valued at approximately $92,323,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 2,145 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.44, for a total value of $41,110.00. Following the transaction, the director now owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. The trade was a 3.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,361 shares of company stock valued at $8,249,331. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NXST. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Benchmark reiterated a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Finally, StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $163.52 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market cap of $5.07 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The firm’s 50-day simple moving average is $168.64 and its two-hundred day simple moving average is $167.14.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.13%. Nexstar Media Group’s payout ratio is 39.10%.

Nexstar Media Group Company 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.