Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,859 shares of the company’s stock after selling 1,347 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nexstar Media Group were worth $2,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in shares of Nexstar Media Group during the second quarter worth $27,000. EverSource Wealth Advisors LLC grew its stake in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in 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 during the period. Finally, GAMMA Investing LLC raised its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $165.74 on Tuesday. The company has a fifty day moving average of $169.57 and a two-hundred day moving average of $165.90. The company has a market capitalization of $5.46 billion, a PE ratio of 14.02, a P/E/G ratio of 0.18 and a beta of 1.49. Nexstar Media Group, Inc. has a 1 year low of $132.30 and a 1 year 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 released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that Nexstar Media Group, Inc. will post 25.72 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $1.69 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.08%. Nexstar Media Group’s payout ratio is 57.19%.

Insider Transactions at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now owns 8,107 shares in the company, valued at approximately $1,277,906.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Lee Ann Gliha sold 984 shares of Nexstar Media Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles Thomas Mcmillen sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now owns 7,975 shares of the company’s stock, valued at approximately $1,276,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,426 shares of company stock worth $5,116,478. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXST shares. Wells Fargo & Company lowered their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Benchmark restated a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average price target of $201.67.

Nexstar Media Group 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.