Capital Research Global Investors Decreases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Capital Research Global Investors cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 37.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 382,640 shares of the company's stock after selling 227,483 shares during the quarter. Capital Research Global Investors owned approximately 1.23% of Nexstar Media Group worth $60,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Nexstar Media Group during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Nexstar Media Group during the 3rd quarter worth about $33,000. Jones Financial Companies Lllp lifted its holdings in Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after buying an additional 73 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Nexstar Media Group by 99.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after buying an additional 392 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Nexstar Media Group by 31.0% during the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock worth $139,000 after buying an additional 209 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 0.8 %

Nexstar Media Group stock traded up $1.16 during midday trading on Friday, reaching $152.12. The stock had a trading volume of 220,615 shares, compared to its average volume of 373,868. Nexstar Media Group, Inc. has a 12 month low of $143.32 and a 12 month high of $191.86. The company has a market capitalization of $4.64 billion, a P/E ratio of 8.80, a PEG ratio of 0.45 and a beta of 1.09. The company has a fifty day moving average price of $163.19 and a two-hundred day moving average price of $163.17. 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 (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $7.56 EPS for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Wednesday, February 12th. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is currently 34.56%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now directly owns 4,975 shares in the company, valued at approximately $843,312.25. This trade represents a 28.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Alford sold 3,768 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now owns 5,405 shares in the company, valued at approximately $983,601.90. This trade represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock valued at $6,722,463 over the last 90 days. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NXST. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, March 5th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. Guggenheim lifted their price objective on Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, StockNews.com lowered Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $208.43.

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.