Man Group plc Decreases Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Man Group plc decreased its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,879 shares of the company's stock after selling 13,154 shares during the quarter. Man Group plc owned about 0.39% of Nexstar Media Group worth $19,253,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Nexstar Media Group by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after acquiring an additional 4,704 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Nexstar Media Group by 27,180.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,206,877 shares of the company's stock worth $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nexstar Media Group by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after buying an additional 18,675 shares during the last quarter. Demars Financial Group LLC lifted its holdings in Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock valued at $122,227,000 after purchasing an additional 768,934 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Nexstar Media Group by 22.3% during the fourth quarter. Northern Trust Corp now owns 463,139 shares of the company's stock valued at $73,162,000 after purchasing an additional 84,367 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

NXST has been the topic of several research analyst reports. Guggenheim upped their price objective on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research report on Monday, March 10th. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Benchmark decreased their price objective on shares of Nexstar Media Group from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Barrington Research reiterated an "outperform" rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

Insider Buying and Selling at Nexstar Media Group

In other news, CEO Perry A. Sook sold 32,096 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the transaction, the chief executive officer now directly owns 806,019 shares of the company's stock, valued at $137,563,262.73. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $177.21, for a total value of $219,917.61. Following the transaction, the insider now directly owns 3,975 shares in the company, valued at approximately $704,409.75. The trade was a 23.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,105 shares of company stock worth $6,722,463 in the last three months. 6.70% of the stock is currently owned by company insiders.

Nexstar Media Group Trading Up 0.8%

NXST stock traded up $1.47 on Tuesday, reaching $175.74. The company's stock had a trading volume of 303,204 shares, compared to its average volume of 391,860. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $5.36 billion, a PE ratio of 10.16, a PEG ratio of 0.45 and a beta of 1.06. The business has a fifty day simple moving average of $162.70 and a two-hundred day simple moving average of $162.01. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.11. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $5.16 earnings per share. The company's revenue was down 3.9% on a year-over-year basis. As a group, research analysts forecast that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.86 per share. The ex-dividend date is Monday, May 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.23%. Nexstar Media Group's dividend payout ratio is currently 37.69%.

Nexstar Media Group Company Profile

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.