Capital Management Corp VA Cuts Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Capital Management Corp VA lowered its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,889 shares of the company's stock after selling 26,112 shares during the period. Nexstar Media Group accounts for 4.9% of Capital Management Corp VA's portfolio, making the stock its 3rd largest position. Capital Management Corp VA owned 0.52% of Nexstar Media Group worth $28,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of NXST. Whipplewood Advisors LLC increased its holdings in shares of Nexstar Media Group by 830.3% in the first quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock valued at $55,000 after purchasing an additional 274 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock worth $72,000 after acquiring an additional 154 shares during the period. Versant Capital Management Inc grew its holdings in Nexstar Media Group by 2,126.3% during the 1st quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after acquiring an additional 404 shares during the period. SBI Securities Co. Ltd. grew its holdings in Nexstar Media Group by 186.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after acquiring an additional 295 shares during the period. Finally, UMB Bank n.a. grew its holdings in Nexstar Media Group by 68.6% during the 1st quarter. UMB Bank n.a. now owns 536 shares of the company's stock worth $96,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on NXST shares. Barrington Research reaffirmed an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Tuesday, May 13th. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Finally, Benchmark lowered their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a 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 company. Based on data from MarketBeat.com, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insiders Place Their Bets

In related news, insider Dana Zimmer sold 889 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the sale, the insider directly owned 6,201 shares of the company's stock, valued at approximately $1,024,715.25. The trade was a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 510 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the completion of the sale, the insider directly owned 8,229 shares in the company, valued at $1,359,842.25. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,474 shares of company stock worth $3,666,988 in the last ninety days. 6.70% of the stock is owned by insiders.

Nexstar Media Group Trading Up 0.4%

Shares of NXST stock traded up $0.78 on Friday, hitting $184.85. The stock had a trading volume of 379,761 shares, compared to its average volume of 375,612. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86. The firm has a market cap of $5.64 billion, a P/E ratio of 9.36, a PEG ratio of 1.35 and a beta of 1.04. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 2.86. The company has a fifty day moving average price of $174.00 and a two-hundred day moving average price of $164.28.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced 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. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $5.16 EPS. The firm's revenue was down 3.9% on a year-over-year basis. As a group, analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is 37.69%.

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.