Steward Partners Investment Advisory LLC Sells 1,757 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Steward Partners Investment Advisory LLC cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,440 shares of the company’s stock after selling 1,757 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Nexstar Media Group were worth $1,009,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Channing Capital Management LLC grew its holdings in Nexstar Media Group by 738.8% during the 3rd quarter. Channing Capital Management LLC now owns 506,212 shares of the company’s stock valued at $72,576,000 after purchasing an additional 445,859 shares during the last quarter. Norges Bank bought a new position in Nexstar Media Group during the 4th quarter valued at about $51,812,000. Boston Financial Mangement LLC grew its stake in Nexstar Media Group by 156.5% in the 3rd quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company’s stock worth $34,218,000 after acquiring an additional 145,617 shares in the last quarter. International Assets Investment Management LLC grew its stake in Nexstar Media Group by 15,107.2% in the 4th quarter. International Assets Investment Management LLC now owns 122,570 shares of the company’s stock worth $19,213,000 after acquiring an additional 121,764 shares in the last quarter. Finally, LSV Asset Management grew its stake in Nexstar Media Group by 5.5% in the 4th quarter. LSV Asset Management now owns 1,384,505 shares of the company’s stock worth $217,021,000 after acquiring an additional 72,462 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Nexstar Media Group Trading Down 1.6 %

NASDAQ NXST opened at $163.09 on Tuesday. The company has a fifty day simple moving average of $165.45 and a two-hundred day simple moving average of $163.30. The stock has a market cap of $5.35 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.60 and a beta of 1.48. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $2.97 earnings per share. On average, analysts forecast that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $1.69 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.14%. Nexstar Media Group’s payout ratio is currently 57.19%.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, May 9th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $190.00 to $221.00 in a research report on Monday, May 13th. Rosenblatt Securities lowered their price target on shares of Nexstar Media Group from $216.00 to $213.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nexstar Media Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Get Our Latest Research Report on NXST

Insider Transactions at Nexstar Media Group

In other news, Director Lisbeth Mcnabb sold 3,175 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total value of $533,400.00. Following the sale, the director now owns 5,252 shares in the company, valued at $882,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Lisbeth Mcnabb sold 3,175 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $168.00, for a total transaction of $533,400.00. Following the sale, the director now owns 5,252 shares in the company, valued at $882,336. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sean Compton sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total transaction of $487,830.00. Following the sale, the insider now owns 9,489 shares in the company, valued at approximately $1,543,006.29. The disclosure for this sale can be found here. Insiders have sold 17,090 shares of company stock worth $2,839,021 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

Nexstar Media Group Company 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.

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

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