Nexstar Media Group, Inc. $NXST Shares Sold by Bruni J V & Co. Co.

Key Points

• Bruni J V & Co. Co. trimmed its Nexstar Media Group stake by 5.0% in the fourth quarter, though NXST remains one of its larger holdings at 3.6% of the portfolio.
• Nexstar shares were down 4.0% to $178.43, with the stock trading below both its 50-day and 200-day moving averages and carrying a debt-to-equity ratio of 5.53.
• The company recently paid a quarterly dividend of $1.86 per share ($7.44 annualized), and analysts currently rate the stock a consensus Buy with a target price of $259.67.

Bruni J V & Co. Co. cut its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,638 shares of the company's stock after selling 9,577 shares during the quarter. Nexstar Media Group accounts for approximately 3.6% of Bruni J V & Co. Co.'s holdings, making the stock its 11th biggest position. Bruni J V & Co. Co. owned approximately 0.60% of Nexstar Media Group worth $36,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC acquired a new stake in shares of Nexstar Media Group during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth $28,000. WPG Advisers LLC lifted its holdings in shares of Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company's stock worth $36,000 after purchasing an additional 71 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company's stock worth $40,000 after purchasing an additional 125 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Nexstar Media Group during the third quarter worth $59,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Trading Down 4.0%

Shares of NXST stock opened at $178.43 on Friday. Nexstar Media Group, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $254.30. The stock has a market cap of $5.45 billion, a P/E ratio of 38.29, a P/E/G ratio of 0.45 and a beta of 0.97. The business has a fifty day simple moving average of $197.31 and a 200-day simple moving average of $207.72. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 5.53.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, May 15th. Nexstar Media Group's dividend payout ratio (DPR) is currently 159.66%.

Insider Activity

In related news, insider Sean Compton sold 445 shares of Nexstar Media Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $83,357.40. Following the completion of the sale, the insider owned 11,807 shares in the company, valued at approximately $2,211,687.24. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brett Jenkins sold 229 shares of Nexstar Media Group stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total value of $42,896.28. Following the sale, the insider owned 27,061 shares of the company's stock, valued at approximately $5,069,066.52. This represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,395 shares of company stock worth $1,805,416 in the last quarter. Corporate insiders own 6.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NXST. Wells Fargo & Company decreased their price target on Nexstar Media Group from $290.00 to $253.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Zacks Research raised Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Benchmark cut their price objective on Nexstar Media Group from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Barrington Research reiterated an "outperform" rating and issued a $290.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $259.67.

Nexstar Media Group Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.

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