Parallel Advisors LLC Trims Stock Holdings in Nexstar Media Group, Inc. $NXST

Parallel Advisors LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST) by 11.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578 shares of the company’s stock after selling 73 shares during the period. Parallel Advisors LLC’s holdings in Nexstar Media Group were worth $100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in Nexstar Media Group in the first quarter worth $311,000. Strs Ohio purchased a new stake in Nexstar Media Group in the first quarter worth $1,222,000. WBI Investments LLC purchased a new stake in Nexstar Media Group in the first quarter worth $268,000. Acadian Asset Management LLC purchased a new stake in Nexstar Media Group in the first quarter worth $654,000. Finally, Geneos Wealth Management Inc. grew its stake in Nexstar Media Group by 86.4% in the first quarter. Geneos Wealth Management Inc. now owns 509 shares of the company’s stock worth $91,000 after purchasing an additional 236 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NXST shares. Wells Fargo & Company upped their price target on Nexstar Media Group from $206.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Barrington Research reissued an “outperform” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Tuesday, August 19th. Guggenheim boosted their target price on Nexstar Media Group from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Benchmark boosted their target price on Nexstar Media Group from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Zacks Research raised Nexstar Media Group to a “hold” rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Nexstar Media Group Trading Down 1.4%

Shares of NASDAQ:NXST opened at $199.30 on Thursday. The company has a market cap of $6.04 billion, a P/E ratio of 10.35, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 2.80, a current ratio of 1.69 and a quick ratio of 1.69. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The stock’s fifty day moving average price is $198.77 and its 200-day moving average price is $178.44.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.54 earnings per share. Sell-side analysts expect that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group’s dividend payout ratio is presently 38.63%.

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.