Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,176,167 shares of the company’s stock after selling 119,096 shares during the quarter. Fmr LLC’s holdings in Nexstar Media Group were worth $194,479,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NXST. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the second quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its stake in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $44,000. GAMMA Investing LLC lifted its stake in shares of Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after acquiring an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Nexstar Media Group in the 2nd quarter worth approximately $49,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NXST. Benchmark reissued a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Wells Fargo & Company reduced their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Price Performance

NASDAQ NXST opened at $173.16 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a market cap of $5.37 billion, a PE ratio of 10.02, a PEG ratio of 0.20 and a beta of 1.48. The stock’s 50-day moving average price is $169.31 and its two-hundred day moving average price is $166.99.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results 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). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s revenue was up 20.7% compared to the same quarter last year. On average, analysts predict that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date was Friday, November 15th. This represents a $6.76 annualized dividend and a dividend yield of 3.90%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 7,975 shares of the company’s stock, valued at approximately $1,276,000. The trade was a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,423 shares of company stock worth $7,916,739. 6.30% of the stock is owned by corporate insiders.

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.