Sei Investments Co. Trims Stock Holdings in Nexstar Media Group, Inc. $NXST

Key Points

• Sei Investments Co. has decreased its stake in Nexstar Media Group by 9.5%, now owning 36,335 shares valued at approximately $6.41 million.
• Analysts have recently raised price targets for Nexstar Media Group, with Barrington Research setting a new target of $225.00 and Wells Fargo increasing theirs to $250.00.
• Nexstar has announced a quarterly dividend of $1.86, representing a 3.5% yield, which will be paid on August 29th.

Sei Investments Co. lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,335 shares of the company's stock after selling 3,803 shares during the quarter. Sei Investments Co. owned about 0.12% of Nexstar Media Group worth $6,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of NXST. Demars Financial Group LLC increased its holdings 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 buying an additional 768,934 shares during the period. Victory Capital Management Inc. increased its holdings in Nexstar Media Group by 611.5% in the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock worth $51,914,000 after buying an additional 248,957 shares during the period. Invesco Ltd. increased its holdings in Nexstar Media Group by 185.0% in the 4th 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 period. Brown Advisory Inc. grew its stake in shares of Nexstar Media Group by 58.3% during the 1st 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 period. Finally, SG Americas Securities LLC acquired a new stake in shares of Nexstar Media Group during the 1st quarter worth approximately $17,574,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Gary Weitman sold 510 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $84,277.50. Following the transaction, the insider owned 8,229 shares in the company, valued at $1,359,842.25. The trade was a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rachel Morgan sold 329 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $54,367.25. Following the transaction, the executive vice president owned 2,122 shares in the company, valued at approximately $350,660.50. This represents a 13.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,021 shares of company stock valued at $2,885,352. 6.70% of the stock is owned by company insiders.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST traded up $0.38 during midday trading on Tuesday, reaching $206.76. 870,735 shares of the company's stock traded hands, compared to its average volume of 422,083. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.69 and a current ratio of 1.69. The company has a fifty day simple moving average of $182.86 and a two-hundred day simple moving average of $169.76. The company has a market cap of $6.27 billion, a P/E ratio of 10.75, a PEG ratio of 1.53 and a beta of 1.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.11. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $3.54 earnings per share. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.6%. Nexstar Media Group's dividend payout ratio is presently 38.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NXST shares. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research note on Friday, August 8th. Benchmark raised their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Nexstar Media Group in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.00.

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.