Nexstar Media Group, Inc. $NXST Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. cut its stake in Nexstar Media Group by 55.5% in the fourth quarter, selling 239,366 shares and leaving it with 191,547 shares worth about $38.9 million.
• Nexstar’s stock was trading near its 52-week low at $164.16, with a market cap of about $5.01 billion and a debt-to-equity ratio of 5.53.
• The company recently paid a quarterly dividend of $1.86 per share, annualizing to $7.44 and a 4.5% yield, while analysts maintain a Buy consensus with a price target of $259.67.

Pacer Advisors Inc. lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,547 shares of the company's stock after selling 239,366 shares during the period. Pacer Advisors Inc. owned 0.63% of Nexstar Media Group worth $38,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in Nexstar Media Group during the first quarter worth about $499,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Nexstar Media Group by 49.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,870 shares of the company's stock valued at $2,844,000 after purchasing an additional 5,251 shares during the last quarter. Millennium Management LLC grew its stake in shares of Nexstar Media Group by 571.4% in the 1st quarter. Millennium Management LLC now owns 72,650 shares of the company's stock valued at $13,020,000 after buying an additional 61,830 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Nexstar Media Group by 14.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 132,809 shares of the company's stock valued at $23,802,000 after buying an additional 16,637 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Nexstar Media Group in the 1st quarter valued at approximately $654,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NXST opened at $164.16 on Friday. The company's 50-day simple moving average is $189.52 and its 200-day simple moving average is $206.34. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. Nexstar Media Group, Inc. has a 1 year low of $163.46 and a 1 year high of $254.30. The stock has a market capitalization of $5.01 billion, a PE ratio of 35.23, a P/E/G ratio of 0.41 and a beta of 0.91.

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a yield of 4.5%. Nexstar Media Group's dividend payout ratio is 159.66%.

Insider Activity at Nexstar Media Group

In other news, insider Gary Weitman sold 261 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $170.81, for a total transaction of $44,581.41. Following the sale, the insider owned 6,963 shares of the company's stock, valued at approximately $1,189,350.03. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Dana Zimmer sold 876 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $170.81, for a total value of $149,629.56. Following the completion of the sale, the insider owned 5,800 shares in the company, valued at approximately $990,698. The trade was a 13.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,813 shares of company stock worth $4,174,731 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NXST has been the subject of several recent analyst reports. Zacks Research upgraded Nexstar Media Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nexstar Media Group in a report on Wednesday, May 27th. Barrington Research reissued an "outperform" rating and issued a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Wall Street Zen upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Benchmark lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target 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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