Pitcairn Co. Has $372,000 Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Pitcairn Co. reduced its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 14.5% in the third quarter, HoldingsChannel reports. The firm owned 2,250 shares of the company’s stock after selling 381 shares during the period. Pitcairn Co.’s holdings in Nexstar Media Group were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXST. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the 2nd quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Nexstar Media Group by 3,700.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after purchasing an additional 259 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Nexstar Media Group in the 3rd quarter valued at about $44,000. GAMMA Investing LLC increased its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock valued at $49,000 after buying an additional 156 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new position in Nexstar Media Group during the 2nd quarter worth approximately $49,000. 95.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on NXST. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Guggenheim dropped their price target on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective on Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Trading Down 0.2 %

NASDAQ:NXST opened at $170.29 on Wednesday. Nexstar Media Group, Inc. has a 52 week low of $141.38 and a 52 week high of $191.86. The firm has a 50-day moving average price of $169.07 and a two-hundred day moving average price of $167.11. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Activity

In other Nexstar Media Group news, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay M. Grossman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.70, for a total value of $1,707,000.00. Following the completion of the sale, the director now owns 54,625 shares in the company, valued at approximately $9,324,487.50. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,423 shares of company stock valued at $7,916,739 in the last three months. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Company Profile

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.