Advisors Asset Management Inc. Reduces Position in Nexstar Media Group, Inc. $NXST

Key Points

• Advisors Asset Management Inc. reduced its shares in Nexstar Media Group by 19.1% during Q1, bringing its total holdings to 18,311 shares, valued at approximately $3.28 million.
• Insider transactions included Dana Zimmer and Lee Ann Gliha selling shares, with total insider sales amounting to 5,209 shares worth $860,787 in the last quarter.
• Nexstar Media Group reported earnings of $3.06 per share for the most recent quarter, surpassing analyst expectations, despite a 3.2% decline in revenue year-over-year.

Advisors Asset Management Inc. reduced its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,311 shares of the company's stock after selling 4,317 shares during the period. Advisors Asset Management Inc. owned about 0.06% of Nexstar Media Group worth $3,282,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NXST. Victory Capital Management Inc. boosted its stake in shares of Nexstar Media Group by 611.5% in the first quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock worth $51,914,000 after acquiring an additional 248,957 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Nexstar Media Group by 32.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock worth $144,110,000 after acquiring an additional 195,574 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Nexstar Media Group by 58.3% in the first quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after acquiring an additional 129,647 shares during the last quarter. Demars Financial Group LLC boosted its stake in shares of Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after acquiring an additional 105,516 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Nexstar Media Group in the first quarter worth approximately $17,574,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Performance

Shares of NASDAQ NXST traded up $6.55 during trading hours on Thursday, reaching $203.91. The stock had a trading volume of 179,490 shares, compared to its average volume of 415,374. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.51 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a fifty-two week low of $141.66 and a fifty-two week high of $223.36. The firm has a 50-day moving average of $194.13 and a 200-day moving average of $175.65.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.21 billion. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.54 EPS. Equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio is 38.63%.

Insider Buying and Selling at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 757 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the transaction, the executive vice president directly owned 12,826 shares of the company's stock, valued at approximately $2,119,496.50. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew Alford sold 757 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the completion of the sale, the insider directly owned 10,528 shares in the company, valued at approximately $1,739,752. The trade was a 6.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,209 shares of company stock worth $860,787. 6.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on NXST. Wells Fargo & Company lifted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Guggenheim lifted their price objective on Nexstar Media Group from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Barrington Research reaffirmed an "outperform" rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Benchmark lifted their price objective on Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Zacks Research raised Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

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.