Bryce Point Capital LLC Has $686,000 Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• Bryce Point Capital LLC has reduced its stake in Nexstar Media Group by 54.8%, now holding shares worth $686,000 after selling nearly 5,000 shares in the first quarter.
• Insider selling activity includes 21,474 shares sold by executives, valued at approximately $3.67 million, indicating a decrease in insider ownership to 6.70%.
• Nexstar Media Group recently reported quarterly earnings of $3.37 EPS, beating expectations, despite a year-over-year revenue decline of 3.9%.

Bryce Point Capital LLC trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 54.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,090 shares of the company's stock after selling 4,963 shares during the quarter. Bryce Point Capital LLC's holdings in Nexstar Media Group were worth $686,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NXST. Glassy Mountain Advisors Inc. raised its stake in shares of Nexstar Media Group by 0.4% in the first quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock worth $3,674,000 after acquiring an additional 73 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Nexstar Media Group by 5.0% in the 1st quarter. HighPoint Advisor Group LLC now owns 1,930 shares of the company's stock worth $346,000 after purchasing an additional 92 shares during the last quarter. State of Michigan Retirement System raised its position in Nexstar Media Group by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 7,000 shares of the company's stock worth $1,255,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Nexstar Media Group by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company's stock worth $1,470,000 after purchasing an additional 100 shares during the last quarter. Finally, Mariner LLC raised its position in Nexstar Media Group by 5.3% in the 4th quarter. Mariner LLC now owns 2,300 shares of the company's stock worth $363,000 after purchasing an additional 115 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 1,437 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total value of $249,448.83. Following the completion of the transaction, the executive vice president owned 10,923 shares of the company's stock, valued at approximately $1,896,123.57. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dana Zimmer sold 1,151 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $202,035.03. Following the sale, the insider directly owned 3,141 shares in the company, valued at $551,339.73. This trade represents a 26.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,474 shares of company stock worth $3,666,988 in the last 90 days. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Down 0.9%

NASDAQ:NXST traded down $1.62 during trading hours on Thursday, hitting $185.98. The stock had a trading volume of 85,115 shares, compared to its average volume of 420,061. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $192.36. The business's 50 day moving average is $176.28 and its 200-day moving average is $165.92. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 1.39 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.11. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the business earned $5.16 EPS. Nexstar Media Group's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Wednesday. Benchmark dropped 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, May 6th. Finally, Wells Fargo & Company dropped 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 research note on Thursday, May 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to 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 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.