Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 43.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NXST. Pacer Advisors Inc. lifted its position in shares of Nexstar Media Group by 27,180.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company’s stock valued at $190,650,000 after acquiring an additional 1,202,453 shares during the last quarter. Norges Bank acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $44,460,000. Proficio Capital Partners LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter valued at $35,560,000. Raymond James Financial Inc. acquired a new position in shares of Nexstar Media Group in the 4th quarter valued at $8,402,000. Finally, Brandywine Global Investment Management LLC increased its stake in Nexstar Media Group by 61.8% in the 4th quarter. Brandywine Global Investment Management LLC now owns 95,291 shares of the company’s stock worth $15,053,000 after purchasing an additional 36,381 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Andrew Alford sold 3,768 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the completion of the sale, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Perry A. Sook sold 32,096 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the sale, the chief executive officer now owns 806,019 shares in the company, valued at approximately $137,563,262.73. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,105 shares of company stock worth $6,722,463 over the last three months. 6.30% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

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

Nexstar Media Group (NASDAQ:NXST) last posted 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 firm 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%. On average, 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 declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a $1.86 dividend. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. This represents a $7.44 annualized dividend and a yield of 5.04%. The ex-dividend date was Wednesday, February 12th. Nexstar Media Group’s payout ratio is currently 34.56%.

Analyst Ratings Changes

NXST has been the topic of several analyst reports. Benchmark lifted their target price on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and increased their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Guggenheim increased their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $208.43.

About Nexstar Media Group

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.