Vaughan Nelson Investment Management L.P. Has $7.93 Million Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Vaughan Nelson Investment Management L.P. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 47.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,279 shares of the company's stock after selling 50,366 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.16% of Nexstar Media Group worth $7,925,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Nexstar Media Group by 15.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,259 shares of the company's stock valued at $467,000 after purchasing an additional 445 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Nexstar Media Group by 7.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,806 shares of the company's stock valued at $2,840,000 after purchasing an additional 1,369 shares in the last quarter. Huntington National Bank lifted its position in shares of Nexstar Media Group by 95.2% during the third quarter. Huntington National Bank now owns 652 shares of the company's stock valued at $93,000 after purchasing an additional 318 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Nexstar Media Group by 2.9% during the third quarter. HighTower Advisors LLC now owns 190,972 shares of the company's stock valued at $27,322,000 after purchasing an additional 5,389 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new position in shares of Nexstar Media Group during the third quarter valued at about $333,000. 95.30% of the stock is owned by institutional investors.

Insider Transactions at Nexstar Media Group

In other news, Director Charles Thomas Mcmillen sold 500 shares of the business's stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $149.57, for a total value of $74,785.00. Following the completion of the sale, the director now directly owns 4,500 shares in the company, valued at approximately $673,065. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Thomas Carter sold 8,500 shares of the company's stock in a transaction on Monday, December 4th. The shares were sold at an average price of $150.45, for a total transaction of $1,278,825.00. Following the completion of the sale, the insider now directly owns 89,082 shares in the company, valued at approximately $13,402,386.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Thomas Mcmillen sold 500 shares of the company's stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $149.57, for a total transaction of $74,785.00. Following the sale, the director now owns 4,500 shares of the company's stock, valued at $673,065. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,273 shares of company stock worth $5,773,808. 5.90% of the stock is currently owned by insiders.

Nexstar Media Group Price Performance

Shares of NASDAQ:NXST opened at $162.72 on Friday. The company has a 50 day moving average of $163.09 and a 200 day moving average of $155.31. The stock has a market cap of $5.52 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.59 and a beta of 1.56. Nexstar Media Group, Inc. has a 12 month low of $132.30 and a 12 month high of $202.26. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.87.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Wednesday, November 8th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.83). Nexstar Media Group had a net margin of 8.51% and a return on equity of 20.92%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $7.30 earnings per share. The company's revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Nexstar Media Group, Inc. will post 10.78 EPS for the current fiscal year.

Nexstar Media Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.15%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Thursday, February 8th. Nexstar Media Group's payout ratio is presently 58.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on NXST shares. Wells Fargo & Company lowered their price objective on shares of Nexstar Media Group from $175.00 to $167.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 9th. Citigroup started coverage on shares of Nexstar Media Group in a research report on Friday, December 8th. They issued a "neutral" rating and a $158.00 price objective on the stock. Finally, TheStreet raised shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.43.

About Nexstar Media Group

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

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