Captrust Financial Advisors Reduces Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Captrust Financial Advisors cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,703 shares of the company's stock after selling 70,586 shares during the period. Captrust Financial Advisors owned approximately 0.42% of Nexstar Media Group worth $20,489,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of Nexstar Media Group by 1,801.8% in the fourth quarter. KBC Group NV now owns 17,230 shares of the company's stock worth $2,722,000 after purchasing an additional 16,324 shares during the last quarter. Entropy Technologies LP purchased a new stake in Nexstar Media Group in the 4th quarter valued at about $506,000. Barclays PLC grew its stake in Nexstar Media Group by 16.8% in the 3rd quarter. Barclays PLC now owns 45,051 shares of the company's stock worth $7,448,000 after acquiring an additional 6,475 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Nexstar Media Group during the fourth quarter worth approximately $1,264,000. Finally, Pacer Advisors Inc. raised its stake in shares of Nexstar Media Group by 27,180.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock valued at $190,650,000 after acquiring an additional 1,202,453 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NXST has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Monday, March 10th. Benchmark decreased their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday. Barrington Research reiterated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

Nexstar Media Group Stock Up 0.3 %

Shares of Nexstar Media Group stock traded up $0.56 on Friday, reaching $164.87. The stock had a trading volume of 549,552 shares, compared to its average volume of 389,114. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $5.03 billion, a P/E ratio of 9.54, a P/E/G ratio of 0.45 and a beta of 1.06. The company has a 50 day moving average price of $162.50 and a 200 day moving average price of $162.16. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $5.16 earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 34.56%.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 32,096 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the transaction, the chief executive officer now owns 806,019 shares in the company, valued at $137,563,262.73. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total transaction of $685,700.64. Following the completion of the sale, the insider now owns 5,405 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 39,105 shares of company stock worth $6,722,463. 6.30% 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.