Fmr LLC Lowers Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Fmr LLC trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,176,167 shares of the company’s stock after selling 119,096 shares during the period. Fmr LLC owned approximately 3.79% of Nexstar Media Group worth $194,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NXST. Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 62,331 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares during the period. Copeland Capital Management LLC lifted its position in Nexstar Media Group by 18.1% during the third quarter. Copeland Capital Management LLC now owns 547,728 shares of the company’s stock valued at $90,567,000 after buying an additional 83,829 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 valued at $69,528,000 after buying an additional 2,145 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in Nexstar Media Group by 4.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 201,940 shares of the company’s stock worth $33,524,000 after buying an additional 9,084 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

Shares of NXST opened at $173.16 on Tuesday. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 0.20 and a beta of 1.48. 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 business’s 50 day moving average is $169.31 and its two-hundred day moving average is $166.99. Nexstar Media Group, Inc. has a 52-week low of $141.38 and a 52-week high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 3.90%. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Insider Buying and Selling

In other news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $190.28, for a total value of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brett Jenkins sold 4,331 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the sale, the insider now directly owns 25,540 shares of the company’s stock, valued at approximately $4,358,145.60. This represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,423 shares of company stock worth $7,916,739. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on NXST shares. StockNews.com upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company lowered their target price on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Finally, Guggenheim lowered their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.50.

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.