Nexstar Media Group, Inc. (NASDAQ:NXST) is Capital Management Corp VA's 3rd Largest Position

Capital Management Corp VA cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,889 shares of the company's stock after selling 26,112 shares during the period. Nexstar Media Group accounts for approximately 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Demars Financial Group LLC grew its position in Nexstar Media Group by 16,009.5% in the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after purchasing an additional 768,934 shares during the period. Norges Bank bought a new position in shares of Nexstar Media Group during the fourth quarter valued at approximately $44,460,000. Victory Capital Management Inc. lifted its position in Nexstar Media Group by 611.5% during the first quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock valued at $51,914,000 after acquiring an additional 248,957 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Nexstar Media Group by 185.0% in the fourth quarter. Invesco Ltd. now owns 219,561 shares of the company's stock worth $34,684,000 after buying an additional 142,520 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Nexstar Media Group by 58.3% during the first quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after purchasing an additional 129,647 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Benchmark dropped 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 report on Tuesday, May 6th. Wells Fargo & Company cut 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 research note on Thursday, May 1st. Finally, Barrington Research reissued an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Buying and Selling

In related news, insider Dana Zimmer sold 889 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $146,907.25. Following the completion of the sale, the insider owned 6,201 shares in the company, valued at $1,024,715.25. This trade represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rachel Morgan sold 329 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $54,367.25. Following the completion of the sale, the executive vice president owned 2,122 shares of the company's stock, valued at $350,660.50. This trade represents a 13.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,474 shares of company stock worth $3,666,988. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Trading Down 1.5%

NXST stock traded down $2.85 during trading on Monday, reaching $182.00. 312,719 shares of the stock were exchanged, compared to its average volume of 426,592. 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 business has a 50 day moving average price of $174.00 and a 200-day moving average price of $164.35. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 1.36 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, topping 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $5.16 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Monday, May 19th. Nexstar Media Group's dividend payout ratio is currently 37.69%.

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.