Glenmede Trust Co. NA Sells 6,116 Shares of Nexstar Media Group, Inc. $NXST

Glenmede Trust Co. NA trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,765 shares of the company's stock after selling 6,116 shares during the period. Glenmede Trust Co. NA owned about 0.20% of Nexstar Media Group worth $11,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NXST. Merit Financial Group LLC lifted its stake in shares of Nexstar Media Group by 1.6% in the fourth quarter. Merit Financial Group LLC now owns 3,571 shares of the company's stock valued at $725,000 after buying an additional 56 shares during the period. Truist Financial Corp increased its stake in Nexstar Media Group by 5.2% during the fourth quarter. Truist Financial Corp now owns 1,139 shares of the company's stock valued at $231,000 after acquiring an additional 56 shares during the period. WPG Advisers LLC increased its stake in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock valued at $36,000 after acquiring an additional 71 shares during the period. Geneos Wealth Management Inc. raised its holdings in Nexstar Media Group by 15.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 589 shares of the company's stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Nexstar Media Group by 3.2% in the 4th quarter. HighTower Advisors LLC now owns 2,975 shares of the company's stock valued at $604,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $180.00, for a total value of $180,000.00. Following the sale, the director owned 5,658 shares of the company's stock, valued at $1,018,440. The trade was a 15.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean Compton sold 5,000 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the insider owned 11,252 shares in the company, valued at $2,205,392. This trade represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,813 shares of company stock worth $4,174,731 over the last three months. 7.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NXST has been the topic of several recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Citigroup upgraded Nexstar Media Group from a "neutral" rating to a "buy" rating and cut their target price for the company from $252.00 to $220.00 in a research note on Friday, April 10th. Zacks Research cut Nexstar Media Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Wall Street Zen cut Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $270.00 to $255.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $259.67.

Nexstar Media Group Price Performance

Shares of NXST opened at $190.53 on Monday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a 50-day moving average price of $178.62 and a two-hundred day moving average price of $201.54. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 40.89, a P/E/G ratio of 0.51 and a beta of 0.91. Nexstar Media Group, Inc. has a 12 month low of $154.47 and a 12 month high of $254.30.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.9%. Nexstar Media Group's dividend payout ratio is presently 159.66%.

About Nexstar Media Group

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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