Nexstar Media Group, Inc. (NASDAQ:NXST) Stake Lessened by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 1.5% in the second quarter, HoldingsChannel reports. The fund owned 11,208 shares of the company’s stock after selling 173 shares during the quarter. Nexstar Media Group accounts for 1.8% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 26th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Nexstar Media Group were worth $1,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in shares of Nexstar Media Group by 31.2% during the 4th quarter. BNP Paribas Financial Markets now owns 14,046 shares of the company’s stock valued at $2,202,000 after acquiring an additional 3,338 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Nexstar Media Group by 16.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,037 shares of the company’s stock worth $476,000 after purchasing an additional 429 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after purchasing an additional 86 shares in the last quarter. Norges Bank purchased a new stake in shares of Nexstar Media Group during the 4th quarter worth about $51,812,000. Finally, D.A. Davidson & CO. grew its stake in shares of Nexstar Media Group by 18.6% in the 4th quarter. D.A. Davidson & CO. now owns 21,933 shares of the company’s stock valued at $3,438,000 after buying an additional 3,442 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Down 0.2 %

Nexstar Media Group stock opened at $167.66 on Friday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.18 and a beta of 1.50. The firm has a fifty day moving average price of $170.02 and a two-hundred day moving average price of $165.69. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.27. 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 (NASDAQ:NXST) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $2.64 EPS. Nexstar Media Group’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts forecast that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend was Friday, August 9th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NXST shares. Wells Fargo & Company cut their price objective on shares of 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 restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased 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 report on Friday, August 9th. StockNews.com lowered Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the director now directly owns 7,975 shares of the company’s stock, valued at $1,276,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the director now directly owns 7,975 shares of the company’s stock, valued at $1,276,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sean Compton sold 3,930 shares of Nexstar Media Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $160.61, for a total transaction of $631,197.30. Following the sale, the insider now owns 10,684 shares in the company, valued at approximately $1,715,957.24. The disclosure for this sale can be found here. Insiders sold a total of 27,644 shares of company stock valued at $4,643,760 in the last ninety days. Company insiders own 5.90% of the company’s stock.

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.