MetLife Investment Management LLC Decreases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

MetLife Investment Management LLC lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,240 shares of the company’s stock after selling 747 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Nexstar Media Group worth $2,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Nexstar Media Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,083,451 shares of the company’s stock valued at $179,149,000 after buying an additional 7,117 shares during the period. Quest Partners LLC raised its holdings in Nexstar Media Group by 661.4% during the 3rd quarter. Quest Partners LLC now owns 8,672 shares of the company’s stock valued at $1,434,000 after buying an additional 7,533 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Nexstar Media Group by 5.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company’s stock valued at $18,504,000 after buying an additional 6,101 shares during the period. GSA Capital Partners LLP increased its stake in Nexstar Media Group by 211.2% in the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock worth $1,024,000 after purchasing an additional 4,204 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Nexstar Media Group in the second quarter worth $570,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST opened at $172.94 on Thursday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $5.36 billion, a PE ratio of 10.00, a P/E/G ratio of 0.21 and a beta of 1.45. The business has a 50-day simple moving average of $169.72 and a two-hundred day simple moving average of $167.06. Nexstar Media Group, Inc. has a fifty-two week low of $141.38 and a fifty-two week high of $191.86.

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 the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 24.53 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim reduced their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Benchmark reissued a “buy” rating and set a $215.00 price target on shares of Nexstar Media Group in a research report on Friday, November 8th. Wells Fargo & Company dropped their price target on 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. Finally, Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $198.50.

Insider Transactions at Nexstar Media Group

In other news, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total value of $2,328,836.92. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares in the company, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the insider now owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The trade was a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,423 shares of company stock worth $7,916,739 over the last three months. 6.30% of the stock is currently 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.