Cwm LLC Reduces Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cwm LLC trimmed its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 80.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 648 shares of the company’s stock after selling 2,698 shares during the quarter. Cwm LLC’s holdings in Nexstar Media Group were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NXST. Signaturefd LLC boosted its stake in shares of Nexstar Media Group by 20.3% during the 4th quarter. Signaturefd LLC now owns 420 shares of the company’s stock worth $66,000 after acquiring an additional 71 shares during the last quarter. Fifth Third Bancorp raised its holdings in Nexstar Media Group by 7.8% in the 4th quarter. Fifth Third Bancorp now owns 1,122 shares of the company’s stock worth $176,000 after purchasing an additional 81 shares during the period. Treasurer of the State of North Carolina lifted its position in Nexstar Media Group by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,999 shares of the company’s stock valued at $2,867,000 after purchasing an additional 91 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Nexstar Media Group by 5.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,608 shares of the company’s stock valued at $374,000 after purchasing an additional 124 shares during the period. Finally, Blue Trust Inc. increased its position in Nexstar Media Group by 21.1% in the fourth quarter. Blue Trust Inc. now owns 906 shares of the company’s stock worth $130,000 after buying an additional 158 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TheStreet raised Nexstar Media Group from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, March 7th. Finally, Rosenblatt Securities reduced their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.83.

Insider Activity

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $170.82, for a total value of $341,640.00. Following the sale, the director now owns 12,027 shares in the company, valued at $2,054,452.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael Strober sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $167.49, for a total value of $167,490.00. Following the completion of the sale, the executive vice president now directly owns 1,076 shares of the company’s stock, valued at approximately $180,219.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total value of $341,640.00. Following the completion of the transaction, the director now 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. In the last ninety days, insiders sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $168.26 on Tuesday. The firm’s fifty day moving average is $164.52 and its two-hundred day moving average is $160.23. Nexstar Media Group, Inc. has a 52-week low of $132.30 and a 52-week high of $187.32. The company has a market cap of $5.54 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.62 and a beta of 1.50. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm posted $8.04 earnings per share. Nexstar Media Group’s quarterly revenue was down 12.3% on a year-over-year basis. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.02%. Nexstar Media Group’s dividend payout ratio (DPR) is 70.20%.

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.