Clark Estates Inc. NY Sells 4,757 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Key Points

• Clark Estates Inc. NY reduced its stake in Nexstar Media Group by 27.6%, selling 4,757 shares during the first quarter, with remaining holdings valued at approximately $2.23 million.
• Despite a 0.9% decline in stock value, Nexstar's most recent earnings report showed earnings per share of $3.37, exceeding analyst estimates.
• Nexstar Media Group recently declared a quarterly dividend of $1.86 per share, resulting in an annualized dividend yield of 3.92%.

Clark Estates Inc. NY lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 27.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,457 shares of the company's stock after selling 4,757 shares during the quarter. Clark Estates Inc. NY's holdings in Nexstar Media Group were worth $2,233,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nexstar Media Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after acquiring an additional 4,704 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock worth $157,580,000 after buying an additional 105,516 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Nexstar Media Group by 22.3% in the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock worth $73,162,000 after buying an additional 84,367 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Nexstar Media Group by 15.5% in the fourth quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after buying an additional 56,935 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Nexstar Media Group by 58.3% in the first quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after buying an additional 129,647 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Activity

In other news, EVP Blake Russell sold 507 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $83,781.75. Following the sale, the executive vice president owned 24,826 shares in the company, valued at $4,102,496.50. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rachel Morgan sold 329 shares of Nexstar Media Group stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $54,367.25. Following the sale, the executive vice president owned 2,122 shares in the company, valued at approximately $350,660.50. The trade was a 13.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,474 shares of company stock valued at $3,666,988. Company insiders own 6.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Benchmark dropped their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.71.

Nexstar Media Group Price Performance

NASDAQ:NXST traded down $2.51 during trading hours on Friday, hitting $184.60. 189,547 shares of the stock traded hands, compared to its average volume of 279,441. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $192.36. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The stock has a 50 day moving average price of $176.86 and a 200 day moving average price of $166.39.

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 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.0%. Nexstar Media Group's payout ratio is currently 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.