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

Key Points

• Teza Capital Management LLC sold 2,592 shares of Nexstar Media Group, lowering its position by 42.4%, leaving it with 3,526 shares valued at approximately $632,000.
• Numerous institutional investors have adjusted their holdings in Nexstar, with Algert Global LLC increasing its stake by 61.2% during the last quarter.
• Analysts have set new price targets for Nexstar, with Guggenheim and Wells Fargo both raising their targets to $250.00, and the stock currently holds a consensus rating of "Moderate Buy."

Teza Capital Management LLC lowered its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 42.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,526 shares of the company's stock after selling 2,592 shares during the period. Teza Capital Management LLC's holdings in Nexstar Media Group were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in NXST. Algert Global LLC increased its holdings in shares of Nexstar Media Group by 61.2% during the 4th quarter. Algert Global LLC now owns 5,424 shares of the company's stock worth $857,000 after buying an additional 2,059 shares during the last quarter. Crestline Management LP purchased a new position in shares of Nexstar Media Group during the 4th quarter worth approximately $435,000. Deutsche Bank AG boosted its position in shares of Nexstar Media Group by 7.9% during the 4th quarter. Deutsche Bank AG now owns 3,451 shares of the company's stock worth $545,000 after purchasing an additional 252 shares during the period. Focus Partners Wealth boosted its position in shares of Nexstar Media Group by 7.3% during the 4th quarter. Focus Partners Wealth now owns 1,726 shares of the company's stock worth $273,000 after purchasing an additional 117 shares during the period. Finally, Gotham Asset Management LLC boosted its position in shares of Nexstar Media Group by 1.2% during the 4th quarter. Gotham Asset Management LLC now owns 49,915 shares of the company's stock worth $7,885,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Nexstar Media Group news, insider Sean Compton sold 850 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 $140,462.50. Following the completion of the transaction, the insider owned 15,272 shares of the company's stock, valued at $2,523,698. This trade represents a 5.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brett Jenkins sold 610 shares of Nexstar Media Group stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total transaction of $100,802.50. Following the sale, the insider directly owned 25,616 shares of the company's stock, valued at approximately $4,233,044. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,209 shares of company stock worth $860,787 over the last three months. 6.70% of the stock is owned by insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $208.27 on Monday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.80. Nexstar Media Group, Inc. has a 52 week low of $141.66 and a 52 week high of $223.36. The stock has a market capitalization of $6.31 billion, a PE ratio of 10.81, a P/E/G ratio of 1.55 and a beta of 1.04. The firm has a 50 day moving average of $192.57 and a two-hundred day moving average of $174.90.

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 company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter last year, the company posted $3.54 EPS. The firm's revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $1.86 dividend. This represents a $7.44 annualized dividend 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 currently 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.

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