Commerce Bank Has $11.41 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• Commerce Bank has reduced its stake in Nexstar Media Group by 26%, holding 63,674 shares valued at approximately $11.41 million.
• Insiders, including EVP Blake Russell, have sold a combined total of 21,474 shares in the past 90 days, indicating a decreasing trend in insider ownership.
• Nexstar Media Group has announced a quarterly dividend of $1.86 to be paid on August 29, with a yield of 4.0% and a payout ratio of 37.69%.

Commerce Bank reduced its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 26.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,674 shares of the company's stock after selling 22,426 shares during the quarter. Commerce Bank owned about 0.21% of Nexstar Media Group worth $11,412,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NXST. Glassy Mountain Advisors Inc. lifted its holdings in Nexstar Media Group by 0.4% during the 1st quarter. Glassy Mountain Advisors Inc. now owns 20,497 shares of the company's stock worth $3,674,000 after buying an additional 73 shares during the last quarter. HighPoint Advisor Group LLC increased 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 valued at $346,000 after acquiring an additional 92 shares during the period. State of Michigan Retirement System increased 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 valued at $1,255,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System increased 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 valued at $1,470,000 after acquiring an additional 100 shares during the period. Finally, Mariner LLC increased its position in shares of Nexstar Media Group by 5.3% during the 4th quarter. Mariner LLC now owns 2,300 shares of the company's stock valued at $363,000 after purchasing an additional 115 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Michael Biard sold 2,182 shares of the company'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 $378,773.38. Following the completion of the sale, the chief operating officer owned 7,218 shares in the company, valued at $1,252,972.62. This represents a 23.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Ann Gliha sold 1,437 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total transaction of $249,448.83. Following the completion of the transaction, the executive vice president directly owned 10,923 shares of the company's stock, valued at approximately $1,896,123.57. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,474 shares of company stock valued at $3,666,988 over the last quarter. 6.70% of the stock is owned by insiders.

Nexstar Media Group Stock Performance

Shares of Nexstar Media Group stock traded down $1.35 during trading on Tuesday, reaching $187.23. The company's stock had a trading volume of 69,444 shares, compared to its average volume of 416,267. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.74 and a current ratio of 1.74. The business's fifty day moving average price is $177.20 and its 200-day moving average price is $166.83. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $192.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $5.16 earnings per share. As a group, equities research analysts predict that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. Nexstar Media Group's payout ratio is presently 37.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NXST shares. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Wednesday, July 30th. Wells Fargo & Company decreased their target price on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Benchmark reduced their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and an average price target of $205.71.

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.