Cerity Partners LLC Sells 3,081 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Cerity Partners LLC cut its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,055 shares of the company’s stock after selling 3,081 shares during the period. Cerity Partners LLC’s holdings in Nexstar Media Group were worth $664,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Nexstar Media Group during the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Nexstar Media Group in the third quarter valued at $33,000. Jones Financial Companies Lllp raised its holdings in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company’s stock valued at $87,000 after buying an additional 73 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company’s stock worth $124,000 after buying an additional 392 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company’s stock worth $139,000 after acquiring an additional 209 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the transaction, the insider now directly owns 5,405 shares of the company’s stock, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Thomas Mcmillen sold 2,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the completion of the sale, the director now owns 4,975 shares of the company’s stock, valued at approximately $843,312.25. This represents a 28.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,105 shares of company stock valued at $6,722,463 in the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NXST. Guggenheim upped their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. StockNews.com cut Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Finally, Benchmark boosted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.43.

Nexstar Media Group Trading Up 0.2 %

NASDAQ NXST opened at $147.50 on Monday. Nexstar Media Group, Inc. has a one year low of $143.32 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market cap of $4.50 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.45 and a beta of 1.09. The stock’s 50-day moving average is $163.42 and its 200-day moving average is $163.68.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $1.86 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a yield of 5.04%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is 34.56%.

Nexstar Media Group Company 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.