Copeland Capital Management LLC Sells 81,196 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Copeland Capital Management LLC decreased its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 455,020 shares of the company's stock after selling 81,196 shares during the period. Nexstar Media Group makes up about 1.6% of Copeland Capital Management LLC's holdings, making the stock its 11th largest holding. Copeland Capital Management LLC owned 1.49% of Nexstar Media Group worth $81,549,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NXST. SBI Securities Co. Ltd. purchased a new stake in Nexstar Media Group during the fourth quarter valued at about $25,000. Whipplewood Advisors LLC lifted its position in Nexstar Media Group by 830.3% in the 1st quarter. Whipplewood Advisors LLC now owns 307 shares of the company's stock worth $55,000 after buying an additional 274 shares during the last quarter. Versant Capital Management Inc boosted its stake in Nexstar Media Group by 2,126.3% in the first quarter. Versant Capital Management Inc now owns 423 shares of the company's stock worth $76,000 after buying an additional 404 shares in the last quarter. UMB Bank n.a. grew its position in Nexstar Media Group by 68.6% during the first quarter. UMB Bank n.a. now owns 536 shares of the company's stock valued at $96,000 after acquiring an additional 218 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Nexstar Media Group by 15.3% during the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Brett Jenkins sold 610 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 $100,802.50. Following the transaction, the insider directly owned 25,616 shares of the company's stock, valued at approximately $4,233,044. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Weitman sold 510 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was 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 of the company's stock, valued at approximately $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 have sold a total of 21,474 shares of company stock valued at $3,666,988 over the last quarter. 6.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NXST shares. Wells Fargo & Company cut their price objective 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. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Benchmark reduced their price objective on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Rosenblatt Securities restated a "buy" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. 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, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus target price of $205.71.

Nexstar Media Group Trading Up 2.8%

Shares of NASDAQ:NXST traded up $4.82 during midday trading on Tuesday, hitting $177.77. 268,937 shares of the stock traded hands, compared to its average volume of 377,131. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 2.86. The business's 50 day moving average is $166.15 and its two-hundred day moving average is $162.17. The stock has a market capitalization of $5.42 billion, a PE ratio of 9.01, a P/E/G ratio of 1.27 and a beta of 1.05. Nexstar Media Group, Inc. has a one year low of $141.66 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion during 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%. Nexstar Media Group's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 EPS. As a group, research analysts forecast 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 $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's payout ratio 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.