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

Copeland Capital Management LLC cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 455,020 shares of the company's stock after selling 81,196 shares during the quarter. Nexstar Media Group accounts for about 1.6% of Copeland Capital Management LLC's portfolio, making the stock its 11th biggest holding. Copeland Capital Management LLC owned about 1.49% of Nexstar Media Group worth $81,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in 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 worth $210,314,000 after buying an additional 4,704 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after buying an additional 18,675 shares during the last quarter. Demars Financial Group LLC raised its stake in Nexstar Media Group by 13.6% in the first quarter. Demars Financial Group LLC now owns 879,253 shares of the company's stock valued at $157,580,000 after buying an additional 105,516 shares during the period. Northern Trust Corp lifted its position 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 valued at $73,162,000 after buying an additional 84,367 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Nexstar Media Group by 15.5% during the 4th quarter. AQR Capital Management LLC now owns 423,808 shares of the company's stock worth $66,949,000 after acquiring an additional 56,935 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Price Performance

NASDAQ NXST traded down $0.80 during midday trading on Friday, hitting $172.48. The company had a trading volume of 613,031 shares, compared to its average volume of 377,938. The company has a market capitalization of $5.26 billion, a PE ratio of 8.74, a P/E/G ratio of 1.27 and a beta of 1.05. 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 firm has a 50-day moving average price of $165.62 and a 200-day moving average price of $162.14. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Nexstar Media Group had a net margin of 12.21% and a return on equity of 29.21%. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $5.16 EPS. As a group, analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Monday, May 19th. Nexstar Media Group's payout ratio is currently 37.69%.

Analysts Set New Price Targets

NXST has been the subject of several research reports. Benchmark cut their price target on Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company reduced 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 report on Thursday, May 1st. Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report 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, Nexstar Media Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.71.

Insider Activity

In other news, insider Gary Weitman sold 510 shares of the firm'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 transaction, the insider now owns 8,229 shares of the company's stock, valued at approximately $1,359,842.25. This trade represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Alford sold 838 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total transaction of $147,094.14. Following the sale, the insider now owns 7,067 shares of the company's stock, valued at approximately $1,240,470.51. This trade represents a 10.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,474 shares of company stock valued at $3,666,988. Insiders own 6.70% of the company's stock.

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.