Copeland Capital Management LLC Sells 20,200 Shares of Nexstar Media Group, Inc. $NXST

Copeland Capital Management LLC lessened its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,779 shares of the company’s stock after selling 20,200 shares during the period. Nexstar Media Group makes up 1.6% of Copeland Capital Management LLC’s portfolio, making the stock its 9th biggest position. Copeland Capital Management LLC owned approximately 1.31% of Nexstar Media Group worth $78,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in Nexstar Media Group by 25.1% during the 1st quarter. American Century Companies Inc. now owns 8,784 shares of the company’s stock worth $1,574,000 after buying an additional 1,764 shares during the period. Raymond James Financial Inc. increased its position in shares of Nexstar Media Group by 0.6% during the first quarter. Raymond James Financial Inc. now owns 53,526 shares of the company’s stock worth $9,593,000 after acquiring an additional 337 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Nexstar Media Group by 75.2% during the first quarter. AlphaQuest LLC now owns 736 shares of the company’s stock worth $132,000 after acquiring an additional 316 shares during the period. MetLife Investment Management LLC boosted its stake in Nexstar Media Group by 3.0% in the 1st quarter. MetLife Investment Management LLC now owns 17,503 shares of the company’s stock worth $3,137,000 after purchasing an additional 516 shares during the period. Finally, Magnetar Financial LLC acquired a new position in Nexstar Media Group in the 1st quarter worth $746,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on NXST shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Nexstar Media Group in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $229.00 to $225.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup decreased their price target on shares of Nexstar Media Group from $218.00 to $204.00 and set a “neutral” rating for the company in a research note on Tuesday, November 25th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $222.38.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST opened at $202.42 on Tuesday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a 50 day moving average price of $194.53 and a 200 day moving average price of $193.18. The stock has a market capitalization of $6.14 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.48). The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. Nexstar Media Group had a return on equity of 22.99% and a net margin of 10.02%.The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.27 EPS. Analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a $1.86 dividend. 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 Wednesday, November 12th. Nexstar Media Group’s dividend payout ratio (DPR) is 46.13%.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.