Nexstar Media Group, Inc. $NXST Shares Sold by Capital Management Corp VA

Key Points

• Capital Management Corp VA reduced its holdings in Nexstar Media Group by 1.9%, now owning 154,957 shares worth approximately $26.8 million.
• Nexstar reported a quarterly EPS of $3.06, exceeding estimates, but its revenue declined 3.2% year-over-year to $1.23 billion.
• The company declared a quarterly dividend of $1.86 per share, representing an annualized yield of 3.8% and a payout ratio of 38.63%.

Capital Management Corp VA lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,957 shares of the company's stock after selling 2,932 shares during the period. Nexstar Media Group comprises 4.6% of Capital Management Corp VA's investment portfolio, making the stock its 3rd biggest holding. Capital Management Corp VA owned 0.51% of Nexstar Media Group worth $26,800,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NXST. IFP Advisors Inc raised its stake in shares of Nexstar Media Group by 375.0% in the second quarter. IFP Advisors Inc now owns 152 shares of the company's stock worth $26,000 after purchasing an additional 120 shares during the last quarter. LRI Investments LLC bought a new stake in Nexstar Media Group during the second quarter worth $43,000. Caitong International Asset Management Co. Ltd raised its position in Nexstar Media Group by 2,293.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 383 shares of the company's stock valued at $69,000 after buying an additional 367 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Nexstar Media Group by 62.3% during the 1st quarter. First Horizon Advisors Inc. now owns 401 shares of the company's stock valued at $72,000 after acquiring an additional 154 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Nexstar Media Group by 186.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 453 shares of the company's stock worth $81,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Trading Up 1.8%

Shares of NXST stock opened at $197.91 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm has a market cap of $6.00 billion, a P/E ratio of 10.28, a PEG ratio of 1.44 and a beta of 1.01. The company has a 50 day moving average of $201.93 and a 200-day moving average of $180.71. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $223.36.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.95 by $0.11. Nexstar Media Group had a return on equity of 28.40% and a net margin of 11.90%.The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the business earned $3.54 earnings per share. Nexstar Media Group's revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $1.86 per share. The ex-dividend date was Friday, August 15th. This represents a $7.44 annualized dividend and a dividend yield of 3.8%. Nexstar Media Group's dividend payout ratio is presently 38.63%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Benchmark lifted their target price on shares of Nexstar Media Group from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Wells Fargo & Company boosted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Barrington Research reaffirmed an "outperform" rating and set a $225.00 price target on shares of Nexstar Media Group in a research report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Nexstar Media Group in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Nexstar Media Group has a consensus rating of "Moderate Buy" and an average target price of $225.00.

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.

Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.