Choreo LLC Cuts Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Choreo LLC trimmed its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,578 shares of the company’s stock after selling 622 shares during the quarter. Choreo LLC’s holdings in Nexstar Media Group were worth $719,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NXST. Pacer Advisors Inc. increased its holdings in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after purchasing an additional 1,202,453 shares in the last quarter. Copeland Capital Management LLC increased its holdings in 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 acquiring an additional 83,829 shares in the last quarter. Payden & Rygel increased its holdings in Nexstar Media Group by 40.4% in the 3rd quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after acquiring an additional 31,700 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Nexstar Media Group in the 3rd quarter worth $3,747,000. Finally, SGL Investment Advisors Inc. purchased a new stake in Nexstar Media Group in the 3rd quarter worth $3,758,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 330 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now owns 8,610 shares of the company’s stock, valued at $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John R. Muse sold 2,385 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $170.16, for a total transaction of $405,831.60. Following the completion of the transaction, the director now directly owns 25,978 shares in the company, valued at $4,420,416.48. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,209 shares of company stock valued at $21,499,239. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Trading Up 0.0 %

Shares of NXST stock opened at $151.46 on Tuesday. The company’s 50-day moving average price is $158.55 and its 200-day moving average price is $165.19. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.44 and a beta of 1.45. Nexstar Media Group, Inc. has a twelve month low of $147.25 and a twelve month high of $191.86.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $1.86 per share. This is a boost from Nexstar Media Group’s previous quarterly dividend of $1.69. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.91%. Nexstar Media Group’s payout ratio is presently 43.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NXST shares. Guggenheim reissued a “buy” rating on shares of Nexstar Media Group in a report on Wednesday, January 22nd. Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $200.00 to $190.00 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 report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $204.29.

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.