Nexstar Media Group, Inc. (NASDAQ:NXST) Holdings Trimmed by Assetmark Inc.

Assetmark Inc. decreased its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,797 shares of the company’s stock after selling 1,541 shares during the period. Assetmark Inc. owned about 0.17% of Nexstar Media Group worth $8,895,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Verdence Capital Advisors LLC acquired a new position in Nexstar Media Group during the third quarter valued at approximately $1,342,000. CWA Asset Management Group LLC acquired a new position in Nexstar Media Group in the 3rd quarter valued at $312,000. Capital Performance Advisors LLP bought a new position in Nexstar Media Group in the 3rd quarter worth $44,000. Olympiad Research LP bought a new position in shares of Nexstar Media Group in the third quarter worth about $265,000. Finally, Capital Management Corp VA lifted its position in shares of Nexstar Media Group by 2.7% during the 3rd quarter. Capital Management Corp VA now owns 162,295 shares of the company’s stock worth $26,835,000 after purchasing an additional 4,258 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NXST shares. Guggenheim dropped their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $200.00 to $190.00 in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Insider Activity at Nexstar Media Group

In related news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Blake Russell sold 2,782 shares of Nexstar Media Group stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $169.92, for a total transaction of $472,717.44. Following the transaction, the executive vice president now directly owns 22,329 shares of the company’s stock, valued at $3,794,143.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

NASDAQ:NXST opened at $171.01 on Tuesday. The firm has a fifty day simple moving average of $168.54 and a 200 day simple moving average of $167.06. The stock has a market capitalization of $5.52 billion, a PE ratio of 9.89, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group, Inc. has a 1-year low of $140.92 and a 1-year high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share for the quarter, missing the consensus estimate of $5.51 by ($0.24). The company 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 25.72%. Nexstar Media Group’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, research analysts expect that Nexstar Media Group, Inc. will post 25.72 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is 39.10%.

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.