Nuveen Asset Management LLC Sells 2,769 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Nuveen Asset Management LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 78,947 shares of the company's stock after selling 2,769 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.25% of Nexstar Media Group worth $12,471,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company's stock worth $7,448,000 after purchasing an additional 6,475 shares during the period. CX Institutional lifted its stake in shares of Nexstar Media Group by 13.1% during the 4th quarter. CX Institutional now owns 1,579 shares of the company's stock valued at $249,000 after buying an additional 183 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Nexstar Media Group during the 4th quarter valued at approximately $208,000. Blue Trust Inc. lifted its stake in shares of Nexstar Media Group by 18.8% during the 4th quarter. Blue Trust Inc. now owns 1,293 shares of the company's stock valued at $214,000 after buying an additional 205 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Nexstar Media Group by 1,801.8% during the 4th quarter. KBC Group NV now owns 17,230 shares of the company's stock valued at $2,722,000 after buying an additional 16,324 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NXST shares. Benchmark decreased their target price on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company decreased their price target on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Guggenheim increased their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and increased their target price for the company from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Trading Down 0.3%

Shares of NASDAQ:NXST traded down $0.58 on Friday, hitting $169.98. The company had a trading volume of 333,983 shares, compared to its average volume of 391,044. The firm's 50-day simple moving average is $162.10 and its two-hundred day simple moving average is $161.99. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 0.45 and a beta of 1.06.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $3.37 EPS for the quarter, topping the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the company posted $5.16 EPS. The company's quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.38%. Nexstar Media Group's dividend payout ratio (DPR) is currently 37.69%.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, CEO Perry A. Sook sold 32,096 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the completion of the sale, the chief executive officer now directly owns 806,019 shares in the company, valued at approximately $137,563,262.73. This trade represents a 3.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brett Jenkins sold 451 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $173.59, for a total transaction of $78,289.09. Following the sale, the insider now owns 24,026 shares of the company's stock, valued at approximately $4,170,673.34. This represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,288 shares of company stock valued at $8,845,948 in the last three months. Company insiders own 6.70% of the company's stock.

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.