Pinebridge Investments L.P. Sells 729 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Pinebridge Investments L.P. lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXSTFree Report) by 30.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,674 shares of the company’s stock after selling 729 shares during the quarter. Pinebridge Investments L.P.’s holdings in Nexstar Media Group were worth $262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company’s stock worth $27,322,000 after acquiring an additional 5,389 shares during the period. Quadrant Capital Group LLC lifted its holdings in Nexstar Media Group by 41.1% during the fourth quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock worth $46,000 after acquiring an additional 86 shares during the period. Copeland Capital Management LLC lifted its holdings in Nexstar Media Group by 3.4% during the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company’s stock worth $81,442,000 after acquiring an additional 16,928 shares during the period. American Century Companies Inc. lifted its holdings in Nexstar Media Group by 519.6% during the third quarter. American Century Companies Inc. now owns 51,659 shares of the company’s stock worth $7,406,000 after acquiring an additional 43,322 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Nexstar Media Group by 72.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 12,182 shares of the company’s stock worth $1,747,000 after acquiring an additional 5,121 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Dennis J. Fitzsimons sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the transaction, the director now directly owns 12,027 shares in the company, valued at $2,054,452.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Nexstar Media Group news, Director Dennis J. Fitzsimons sold 2,000 shares of Nexstar Media Group stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $170.82, for a total transaction of $341,640.00. Following the completion of the sale, the director now owns 12,027 shares of the company’s stock, valued at $2,054,452.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Muse sold 365 shares of Nexstar Media Group stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $160.00, for a total value of $58,400.00. Following the sale, the director now directly owns 27,613 shares of the company’s stock, valued at approximately $4,418,080. The disclosure for this sale can be found here. Insiders sold a total of 13,009 shares of company stock worth $2,166,731 over the last ninety days. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $156.47 on Monday. The stock has a market cap of $5.14 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. Nexstar Media Group, Inc. has a fifty-two week low of $132.30 and a fifty-two week high of $187.32. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a fifty day moving average of $164.34 and a 200-day moving average of $163.41.

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

Nexstar Media Group Announces Dividend

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

Analysts Set New Price Targets

NXST has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $190.00 to $221.00 in a report on Monday, May 13th. Rosenblatt Securities decreased their target price on 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. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a research report on Thursday, May 9th. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a research report on Friday, May 10th. Finally, Loop Capital raised Nexstar Media Group to a “strong-buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Check Out Our Latest Stock Analysis on NXST

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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