Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,180 shares of the company’s stock after selling 756 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.09% of Nexstar Media Group worth $5,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NXST. LSV Asset Management raised its holdings in shares of Nexstar Media Group by 5.5% during the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock worth $217,021,000 after purchasing an additional 72,462 shares during the last quarter. Copeland Capital Management LLC increased its holdings in Nexstar Media Group by 3.4% in the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock valued at $81,442,000 after buying an additional 16,928 shares in the last quarter. Channing Capital Management LLC increased its holdings in Nexstar Media Group by 738.8% in the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after buying an additional 445,859 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Nexstar Media Group by 392.6% in the fourth quarter. Point72 Asset Management L.P. now owns 450,351 shares of the company’s stock valued at $70,593,000 after buying an additional 358,920 shares in the last quarter. Finally, Norges Bank purchased a new position in Nexstar Media Group in the fourth quarter valued at $51,812,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Nexstar Media Group Price Performance

NXST traded down $0.27 on Friday, reaching $156.47. 195,880 shares of the company’s stock were exchanged, compared to its average volume of 318,900. The stock has a market cap of $5.14 billion, a PE ratio of 13.24, a P/E/G ratio of 0.57 and a beta of 1.48. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The stock’s fifty day moving average price is $164.34 and its 200-day moving average price is $163.41. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.80 and a quick ratio of 1.80.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. Nexstar Media Group’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.97 earnings per share. Sell-side analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $1.69 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 4.32%. Nexstar Media Group’s payout ratio is 57.19%.

Analyst Ratings Changes

A number of research analysts have weighed in on NXST shares. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, May 9th. Benchmark reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Nexstar Media Group in a report on Friday, May 10th. Rosenblatt Securities cut their target price on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $190.00 to $221.00 in a research note on Monday, May 13th. Finally, Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Two investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.00.

Check Out Our Latest Report on Nexstar Media Group

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the transaction, the director now directly owns 12,027 shares in the company, valued at approximately $2,054,452.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Lee Ann Gliha sold 326 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total transaction of $52,160.00. Following the completion of the transaction, the chief financial officer now owns 5,462 shares of the company’s stock, valued at approximately $873,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis J. Fitzsimons sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the transaction, the director now directly owns 12,027 shares of the company’s stock, valued at approximately $2,054,452.14. The disclosure for this sale can be found here. Insiders have sold 13,009 shares of company stock worth $2,166,731 in the last ninety days. 5.90% of the stock is owned by insiders.

Nexstar Media Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report).

Institutional Ownership by Quarter for Nexstar Media Group (NASDAQ:NXST)

Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.