Nexstar Media Group, Inc. (NASDAQ:NXST) Position Reduced by Channing Capital Management LLC

Channing Capital Management LLC trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 421,595 shares of the company's stock after selling 84,617 shares during the period. Nexstar Media Group makes up about 2.0% of Channing Capital Management LLC's portfolio, making the stock its 26th largest holding. Channing Capital Management LLC owned 1.24% of Nexstar Media Group worth $66,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in Nexstar Media Group by 5.5% during the fourth quarter. LSV Asset Management now owns 1,384,505 shares of the company's stock valued at $217,021,000 after buying an additional 72,462 shares in the last quarter. M&T Bank Corp lifted its holdings in Nexstar Media Group by 18.3% in the 4th quarter. M&T Bank Corp now owns 2,975 shares of the company's stock valued at $466,000 after acquiring an additional 461 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Nexstar Media Group by 350.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company's stock valued at $37,000 after purchasing an additional 186 shares in the last quarter. New York Life Investment Management LLC boosted its position in shares of Nexstar Media Group by 4.4% during the 4th quarter. New York Life Investment Management LLC now owns 3,795 shares of the company's stock valued at $595,000 after purchasing an additional 160 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Nexstar Media Group by 117.6% in the 4th quarter. Victory Capital Management Inc. now owns 25,610 shares of the company's stock worth $4,014,000 after purchasing an additional 13,838 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NXST shares. Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday, March 7th. Rosenblatt Securities reduced their price objective on Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Finally, TheStreet upgraded Nexstar Media Group from a "c+" rating to a "b-" rating in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus price target of $193.83.

Insider Activity

In other news, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the transaction, the chief executive officer now owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lisbeth Mcnabb sold 3,175 shares of Nexstar Media Group stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $168.00, for a total transaction of $533,400.00. Following the completion of the sale, the director now owns 5,252 shares of the company's stock, valued at $882,336. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 31,758 shares of Nexstar Media Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $158.66, for a total value of $5,038,724.28. Following the sale, the chief executive officer now directly owns 636,788 shares of the company's stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,508 shares of company stock worth $7,487,950. 5.90% of the stock is owned by corporate insiders.

Nexstar Media Group Trading Up 1.4 %

Nexstar Media Group stock traded up $2.26 during midday trading on Friday, reaching $166.56. The stock had a trading volume of 272,399 shares, compared to its average volume of 237,667. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.32. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.53 and a quick ratio of 1.53. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.62 and a beta of 1.50. The firm's fifty day simple moving average is $164.36 and its two-hundred day simple moving average is $160.05.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $3.32 EPS for the quarter, missing the consensus estimate of $4.42 by ($1.10). Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $8.04 EPS. The business's quarterly revenue was down 12.3% on a year-over-year basis. Equities analysts anticipate that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.06%. Nexstar Media Group's dividend payout ratio is 70.20%.

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.

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