Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,096 shares of the company's stock after selling 8,351 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Nexstar Media Group worth $9,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Nexstar Media Group by 20.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 29,902 shares of the company's stock valued at $4,287,000 after buying an additional 5,021 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Nexstar Media Group by 217.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,320 shares of the company's stock worth $1,766,000 after purchasing an additional 8,443 shares in the last quarter. Independent Advisor Alliance bought a new position in Nexstar Media Group in the third quarter worth approximately $323,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nexstar Media Group by 12.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,414 shares of the company's stock worth $1,063,000 after purchasing an additional 839 shares during the period. Finally, Advisor Partners II LLC raised its position in Nexstar Media Group by 37.6% during the 3rd quarter. Advisor Partners II LLC now owns 1,978 shares of the company's stock valued at $284,000 after purchasing an additional 540 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 other news, CEO Perry A. Sook sold 31,758 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Lisbeth Mcnabb sold 2,300 shares of the firm's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $165.00, for a total value of $379,500.00. Following the completion of the transaction, the director now owns 12,727 shares in the company, valued at approximately $2,099,955. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Perry A. Sook sold 31,758 shares of the business's stock in a transaction dated 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 owns 636,788 shares in the company, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold 46,508 shares of company stock valued at $7,487,950 in the last ninety days. Corporate insiders own 5.90% of the company's stock.

Nexstar Media Group Stock Down 1.1 %

NXST traded down $1.87 on Tuesday, hitting $166.39. The company had a trading volume of 274,994 shares, compared to its average volume of 334,984. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 0.62 and a beta of 1.50. The stock has a fifty day moving average price of $164.52 and a 200-day moving average price of $160.23. Nexstar Media Group, Inc. has a 12-month low of $132.30 and a 12-month high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $8.04 EPS. The company's revenue was down 12.3% compared to the same quarter last year. Analysts predict that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Announces Dividend

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

Wall Street Analyst Weigh In

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

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.