Nexstar Media Group, Inc. $NXST Shares Sold by Copeland Capital Management LLC

Key Points

• Copeland Capital Management LLC reduced its stake in Nexstar Media Group, Inc. by 8.4%, owning 416,979 shares after selling 38,041 shares in the second quarter.
• Nexstar Media Group reported $3.06 EPS, exceeding analyst expectations of $2.95, with revenue of $1.23 billion for the quarter, down 3.2% year-over-year.
• The company announced a quarterly dividend of $1.86, resulting in an annualized yield of 3.7%, with a payout ratio of 38.63%.

Copeland Capital Management LLC cut its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 416,979 shares of the company's stock after selling 38,041 shares during the period. Nexstar Media Group comprises approximately 1.5% of Copeland Capital Management LLC's holdings, making the stock its 16th biggest position. Copeland Capital Management LLC owned 1.37% of Nexstar Media Group worth $72,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NXST. Jones Financial Companies Lllp boosted its stake in Nexstar Media Group by 71,715.8% during the 1st quarter. Jones Financial Companies Lllp now owns 394,987 shares of the company's stock valued at $70,790,000 after purchasing an additional 394,437 shares during the period. New Vernon Capital Holdings II LLC acquired a new position in Nexstar Media Group during the 1st quarter valued at about $60,064,000. Victory Capital Management Inc. boosted its stake in Nexstar Media Group by 611.5% during the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock valued at $51,914,000 after purchasing an additional 248,957 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Nexstar Media Group by 32.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 804,095 shares of the company's stock valued at $144,110,000 after purchasing an additional 195,574 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Nexstar Media Group by 58.3% during the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock valued at $63,115,000 after purchasing an additional 129,647 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Nexstar Media Group Stock Up 1.3%

NXST stock opened at $198.63 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm's 50-day moving average is $200.17 and its two-hundred day moving average is $179.54. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.06 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 for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm earned $3.54 EPS. The business's revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, August 15th. Nexstar Media Group's payout ratio is presently 38.63%.

Wall Street Analyst Weigh In

NXST has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Barrington Research reissued an "outperform" rating and set a $225.00 target price on shares of Nexstar Media Group in a research note on Tuesday, August 19th. Guggenheim boosted their price target on shares of Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Benchmark boosted their price target 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. Finally, Zacks Research upgraded shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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