Oppenheimer & Co. Inc. Decreases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Oppenheimer & Co. Inc. lessened its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 38.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,517 shares of the company's stock after selling 1,600 shares during the period. Oppenheimer & Co. Inc.'s holdings in Nexstar Media Group were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake in shares of Nexstar Media Group by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock valued at $87,000 after buying an additional 73 shares in the last quarter. Mariner LLC lifted its holdings in Nexstar Media Group by 5.3% in the fourth quarter. Mariner LLC now owns 2,300 shares of the company's stock valued at $363,000 after acquiring an additional 115 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 in the last quarter. Trust Point Inc. grew its stake in shares of Nexstar Media Group by 5.4% during the 1st quarter. Trust Point Inc. now owns 2,334 shares of the company's stock worth $418,000 after purchasing an additional 119 shares during the period. Finally, Integrated Advisors Network LLC increased its holdings in shares of Nexstar Media Group by 9.6% in the 4th quarter. Integrated Advisors Network LLC now owns 1,461 shares of the company's stock valued at $231,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Activity at Nexstar Media Group

In related news, EVP Lee Ann Gliha sold 1,437 shares of Nexstar Media Group stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $173.59, for a total value of $249,448.83. Following the transaction, the executive vice president owned 10,923 shares in the company, valued at approximately $1,896,123.57. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Compton sold 1,088 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $175.53, for a total value of $190,976.64. Following the completion of the transaction, the insider owned 12,096 shares in the company, valued at approximately $2,123,210.88. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,474 shares of company stock worth $3,666,988. Company insiders own 6.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NXST shares. Benchmark lowered 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 research report on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Tuesday, May 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Monday, March 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

Nexstar Media Group Trading Up 0.4%

NASDAQ:NXST traded up $0.73 on Friday, reaching $180.99. The stock had a trading volume of 174,463 shares, compared to its average volume of 377,273. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 9.17, a P/E/G ratio of 1.32 and a beta of 1.04. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.74 and a quick ratio of 1.74. The firm's fifty day moving average is $167.90 and its two-hundred day moving average is $162.53.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $3.37 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. Nexstar Media Group had a return on equity of 29.21% and a net margin of 12.21%. The business's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 earnings per share. Equities analysts expect that Nexstar Media Group, Inc. will post 21.62 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a yield of 4.11%. Nexstar Media Group's payout ratio is 37.69%.

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.