Mutual of America Capital Management LLC Trims Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Mutual of America Capital Management LLC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,206 shares of the company’s stock after selling 782 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Nexstar Media Group worth $3,309,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NXST. EverSource Wealth Advisors LLC raised its position in Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after buying an additional 177 shares during the last quarter. First United Bank & Trust purchased a new position in shares of Nexstar Media Group during the 4th quarter valued at approximately $33,000. SRS Capital Advisors Inc. increased its holdings in shares of Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after purchasing an additional 186 shares in the last quarter. OLD Second National Bank of Aurora purchased a new position in shares of Nexstar Media Group during the 4th quarter valued at approximately $45,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Nexstar Media Group by 41.1% during the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after purchasing an additional 86 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $174.87 on Friday. Nexstar Media Group, Inc. has a one year low of $132.30 and a one year 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 firm has a fifty day moving average of $162.69 and a 200 day moving average of $165.09. The firm has a market cap of $5.76 billion, a PE ratio of 14.79, a PEG ratio of 0.62 and a beta of 1.50.

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

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a dividend of $1.69 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 3.87%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Thursday, June 20th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, May 9th. Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $190.00 to $221.00 in a report on Monday, May 13th. Finally, Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $203.67.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Gary Weitman sold 432 shares of Nexstar Media Group stock in a transaction on Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,329.76. Following the sale, the insider now owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Gary Weitman sold 432 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,329.76. Following the transaction, the insider now owns 10,902 shares of the company’s stock, valued at approximately $1,825,321.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Blake Russell sold 433 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The disclosure for this sale can be found here. Insiders have sold a total of 6,826 shares of company stock valued at $1,080,597 in the last 90 days. 5.90% of the stock is owned by insiders.

Nexstar Media Group 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.