Nexstar Media Group, Inc. (NASDAQ:NXST) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 30.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,409 shares of the company's stock after selling 6,894 shares during the period. Truist Financial Corp's holdings in Nexstar Media Group were worth $2,415,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Copeland Capital Management LLC lifted its holdings in Nexstar Media Group by 3.4% in the fourth quarter. Copeland Capital Management LLC now owns 519,567 shares of the company's stock valued at $81,442,000 after acquiring an additional 16,928 shares during the period. Channing Capital Management LLC grew its position in Nexstar Media Group by 738.8% during the third quarter. Channing Capital Management LLC now owns 506,212 shares of the company's stock valued at $72,576,000 after buying an additional 445,859 shares during the period. New York State Common Retirement Fund increased its holdings in Nexstar Media Group by 71.0% in the third quarter. New York State Common Retirement Fund now owns 249,679 shares of the company's stock valued at $35,796,000 after buying an additional 103,636 shares in the last quarter. Boston Financial Mangement LLC raised its position in shares of Nexstar Media Group by 156.5% in the third quarter. Boston Financial Mangement LLC now owns 238,670 shares of the company's stock worth $34,218,000 after acquiring an additional 145,617 shares during the period. Finally, Epoch Investment Partners Inc. boosted its stake in shares of Nexstar Media Group by 10.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 208,946 shares of the company's stock worth $29,957,000 after acquiring an additional 19,054 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NASDAQ NXST traded up $9.83 during mid-day trading on Thursday, reaching $177.94. The company's stock had a trading volume of 587,333 shares, compared to its average volume of 338,023. The stock has a market capitalization of $5.86 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.62 and a beta of 1.50. Nexstar Media Group, Inc. has a 1-year low of $132.30 and a 1-year high of $187.32. The stock has a 50-day moving average of $164.90 and a two-hundred day moving average of $160.59. 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 released its earnings results on Wednesday, February 28th. The company reported $3.32 earnings per share for the quarter, missing analysts' consensus estimates of $4.42 by ($1.10). The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.32 billion. Nexstar Media Group had a return on equity of 14.06% and a net margin of 7.03%. The company's revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the business earned $8.04 earnings per share. On average, equities research analysts anticipate that Nexstar Media Group, Inc. will post 26.73 EPS for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group's payout ratio is currently 70.20%.

Insiders Place Their Bets

In related 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 value of $5,038,724.28. Following the completion of the sale, the chief executive officer now owns 636,788 shares of the company's stock, valued at $101,032,784.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Perry A. Sook sold 31,758 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, the chief executive officer now directly owns 636,788 shares in the company, valued at $101,032,784.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean Compton sold 3,000 shares of Nexstar Media Group stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total value of $487,830.00. Following the completion of the sale, the insider now owns 9,489 shares in the company, valued at approximately $1,543,006.29. The disclosure for this sale can be found here. Insiders sold 46,508 shares of company stock valued at $7,487,950 in the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NXST has been the topic of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday, March 7th. Rosenblatt Securities dropped their price target on shares of 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. Finally, TheStreet upgraded shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.