Nexstar Media Group, Inc. $NXST Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Nexstar Media Group by 1.8%, holding approximately 3.05 million shares valued at $547 million at the end of the first quarter.
• In a recent analyst update, Wells Fargo raised its price target for Nexstar Media Group from $206 to $250, issuing an "overweight" rating.
• Nexstar Media Group's stock is currently down 2.3%, trading at $206.36, with a market cap of $6.26 billion and a recent quarterly earnings report showing a net margin of 11.90%.

Vanguard Group Inc. lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,052,683 shares of the company's stock after selling 57,502 shares during the period. Vanguard Group Inc. owned 10.01% of Nexstar Media Group worth $547,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of NXST. Demars Financial Group LLC increased its holdings in Nexstar Media Group by 16,009.5% in the 4th quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares during the period. Victory Capital Management Inc. increased its stake in Nexstar Media Group by 611.5% during the 1st quarter. Victory Capital Management Inc. now owns 289,668 shares of the company's stock worth $51,914,000 after buying an additional 248,957 shares in the last quarter. Invesco Ltd. lifted its holdings in Nexstar Media Group by 185.0% in the 4th quarter. Invesco Ltd. now owns 219,561 shares of the company's stock valued at $34,684,000 after purchasing an additional 142,520 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Nexstar Media Group by 58.3% during the 1st quarter. Brown Advisory Inc. now owns 352,165 shares of the company's stock worth $63,115,000 after purchasing an additional 129,647 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Nexstar Media Group in the 1st quarter worth $17,574,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insiders Place Their Bets

In related news, insider Gary Weitman sold 510 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $165.25, for a total transaction of $84,277.50. Following the sale, the insider owned 8,229 shares in the company, valued at $1,359,842.25. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dana Zimmer sold 889 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $165.25, for a total value of $146,907.25. Following the completion of the sale, the insider directly owned 6,201 shares in the company, valued at $1,024,715.25. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,021 shares of company stock worth $2,885,352. Corporate insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Up 3.0%

Shares of Nexstar Media Group stock traded up $6.24 during trading hours on Tuesday, reaching $212.62. The stock had a trading volume of 326,642 shares, compared to its average volume of 418,494. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.53 and a beta of 1.05. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $223.36. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.80. The firm has a 50 day simple moving average of $182.86 and a two-hundred day simple moving average of $169.76.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.95 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Nexstar Media Group had a net margin of 11.90% and a return on equity of 28.40%. The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.54 earnings per share. As a group, equities research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, August 15th. Nexstar Media Group's payout ratio is 38.63%.

Analysts Set New Price Targets

NXST has been the topic of a number of research analyst reports. Benchmark boosted their price target on shares of Nexstar Media Group from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Barrington Research boosted their price objective on shares of Nexstar Media Group from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Zacks Research raised shares of Nexstar Media Group to a "hold" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on Nexstar Media Group from $206.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus price target of $220.00.

About Nexstar Media Group

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.