Cetera Investment Advisers Trims Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Cetera Investment Advisers reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 36.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,540 shares of the company's stock after selling 1,996 shares during the period. Cetera Investment Advisers' holdings in Nexstar Media Group were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NXST. SBI Securities Co. Ltd. bought a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its position in Nexstar Media Group by 15.3% in the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares during the period. Steward Partners Investment Advisory LLC grew its position in Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock worth $124,000 after purchasing an additional 392 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of 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 acquiring an additional 209 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Nexstar Media Group by 49.7% during the 4th quarter. Covestor Ltd now owns 949 shares of the company's stock worth $150,000 after acquiring an additional 315 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Nexstar Media Group Price Performance

Shares of Nexstar Media Group stock traded down $0.58 during trading hours on Friday, reaching $169.98. The company's stock had a trading volume of 333,983 shares, compared to its average volume of 391,044. The stock has a market cap of $5.19 billion, a P/E ratio of 9.83, a P/E/G ratio of 0.45 and a beta of 1.06. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86. The firm has a 50 day moving average price of $162.10 and a 200-day moving average price of $161.99. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.26 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.16 EPS. On average, analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.86 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 annualized dividend and a yield of 4.38%. Nexstar Media Group's dividend payout ratio (DPR) is 37.69%.

Insider Transactions at Nexstar Media Group

In related news, EVP Blake Russell sold 362 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 transaction of $62,839.58. Following the sale, the executive vice president now owns 23,033 shares in the company, valued at approximately $3,998,298.47. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.98, for a total transaction of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares in the company, valued at approximately $983,601.90. The trade was a 41.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,288 shares of company stock valued at $8,845,948. Company insiders own 6.70% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on NXST shares. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Monday, March 10th. Benchmark decreased their price target on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Loop Capital upgraded shares of Nexstar Media Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $200.00 in a report on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

About Nexstar Media Group

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.