Hsbc Holdings PLC Lowers Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Hsbc Holdings PLC cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 38.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,819 shares of the company’s stock after selling 4,865 shares during the quarter. Hsbc Holdings PLC’s holdings in Nexstar Media Group were worth $1,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Nexstar Media Group by 632.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust bought a new position in shares of Nexstar Media Group during the fourth quarter worth $33,000. SRS Capital Advisors Inc. grew its stake in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in Nexstar Media Group during the fourth quarter valued at $45,000. Finally, Quadrant Capital Group LLC increased its holdings in Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after acquiring an additional 86 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $190.00 to $221.00 in a report on Monday, May 13th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, May 9th. Rosenblatt Securities dropped 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. Finally, Benchmark restated a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and an average target price of $206.00.

View Our Latest Research Report on NXST

Nexstar Media Group Trading Down 0.2 %

Shares of NXST opened at $156.47 on Monday. The company’s fifty day simple moving average is $164.34 and its 200-day simple moving average is $163.41. The company has a market cap of $5.14 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.57 and a beta of 1.48. 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, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32.

Nexstar Media Group (NASDAQ:NXSTGet Free Report) last posted its quarterly earnings data 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. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Nexstar Media Group, Inc. will post 27.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

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

Insider Buying and Selling at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 326 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John R. Muse sold 365 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $58,400.00. Following the transaction, the director now owns 27,613 shares of the company’s stock, valued at $4,418,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Lee Ann Gliha sold 326 shares of Nexstar Media Group stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $160.00, for a total value of $52,160.00. Following the sale, the chief financial officer now directly owns 5,462 shares of the company’s stock, valued at $873,920. The disclosure for this sale can be found here. Insiders have sold 13,009 shares of company stock valued at $2,166,731 in the last quarter. 5.90% of the stock is owned by insiders.

About Nexstar Media Group

(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

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.