Nexstar Media Group, Inc. $NXST Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has reduced its stake in Nexstar Media Group by 66.2% in the first quarter, now holding 1,671 shares valued at approximately $299,000.
• Institutional investors together own 95.30% of Nexstar Media Group, with several hedge funds like Victory Capital Management and Brown Advisory increasing their positions significantly during the same period.
• Nexstar Media Group's recent earnings report showed $3.06 earnings per share, exceeding analysts' expectations, despite a 3.2% year-over-year revenue decline.

Northwestern Mutual Wealth Management Co. cut its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 66.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,671 shares of the company's stock after selling 3,272 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Nexstar Media Group were worth $299,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new position in shares of Nexstar Media Group during the first quarter worth approximately $323,000. Crossmark Global Holdings Inc. acquired a new stake in Nexstar Media Group in the 1st quarter valued at $219,000. Foster & Motley Inc. lifted its holdings in Nexstar Media Group by 8.5% during the 1st quarter. Foster & Motley Inc. now owns 41,063 shares of the company's stock worth $7,359,000 after buying an additional 3,202 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Nexstar Media Group by 1.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,484 shares of the company's stock worth $6,180,000 after purchasing an additional 624 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Nexstar Media Group in the 1st quarter valued at about $218,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on NXST. Barrington Research reiterated an "outperform" rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Tuesday, August 19th. Guggenheim upped their price target on Nexstar Media Group from $220.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Zacks Research raised Nexstar Media Group to a "hold" rating in a report on Friday, August 8th. Benchmark increased their price objective on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company lifted their target price on Nexstar Media Group from $206.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.00.

Insiders Place Their Bets

In related news, insider Andrew Alford sold 757 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total value of $125,094.25. Following the completion of the transaction, the insider directly owned 10,528 shares of the company's stock, valued at approximately $1,739,752. This trade represents a 6.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Ann Gliha sold 757 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $125,094.25. Following the transaction, the executive vice president directly owned 12,826 shares of the company's stock, valued at approximately $2,119,496.50. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,209 shares of company stock valued at $860,787. 6.70% of the stock is currently owned by insiders.

Nexstar Media Group Stock Up 0.4%

Shares of NXST traded up $0.82 during trading on Monday, reaching $209.09. The company's stock had a trading volume of 71,676 shares, compared to its average volume of 417,072. Nexstar Media Group, Inc. has a twelve month low of $141.66 and a twelve month high of $223.36. 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 company has a fifty day moving average of $192.57 and a two-hundred day moving average of $174.90. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 1.55 and a beta of 1.04.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results 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 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 the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $3.54 EPS. The firm's quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, August 15th. Nexstar Media Group's dividend payout ratio (DPR) is 38.63%.

Nexstar Media Group Company 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.