Mutual of America Capital Management LLC Sells 1,470 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Mutual of America Capital Management LLC cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,389 shares of the company’s stock after selling 1,470 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nexstar Media Group were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in Nexstar Media Group by 5.0% in the 3rd quarter. CX Institutional now owns 1,396 shares of the company’s stock valued at $231,000 after acquiring an additional 67 shares in the last quarter. Granite Group Advisors LLC lifted its holdings in shares of Nexstar Media Group by 5.1% during the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company’s stock worth $257,000 after acquiring an additional 72 shares during the period. Blue Trust Inc. boosted its position in shares of Nexstar Media Group by 7.3% during the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company’s stock worth $181,000 after acquiring an additional 74 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. increased its stake in Nexstar Media Group by 0.6% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company’s stock valued at $2,308,000 after acquiring an additional 87 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in Nexstar Media Group by 2.3% during the second quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target 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. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $200.00 to $190.00 in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered 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 research report on Friday, August 9th. Finally, Guggenheim cut their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Insiders Place Their Bets

In related news, CEO Perry A. Sook sold 12,239 shares of Nexstar Media Group stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rachel Morgan sold 6,196 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,903 shares of company stock worth $7,833,240. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock opened at $169.75 on Friday. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group, Inc. has a twelve month low of $141.38 and a twelve month high of $191.86. The company’s fifty day moving average is $168.98 and its 200 day moving average is $167.17. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST) last released 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. The ex-dividend date is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 3.98%. Nexstar Media Group’s payout ratio is 39.10%.

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.