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

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXST. SBI Securities Co. Ltd. acquired a new position in shares of Nexstar Media Group in the fourth quarter worth $25,000. Jones Financial Companies Lllp increased its position in Nexstar Media Group by 15.3% during the 4th quarter. Jones Financial Companies Lllp now owns 550 shares of the company's stock worth $87,000 after purchasing an additional 73 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Nexstar Media Group by 99.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 786 shares of the company's stock valued at $124,000 after purchasing an additional 392 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Nexstar Media Group by 31.0% in the 4th quarter. Venturi Wealth Management LLC now owns 883 shares of the company's stock valued at $139,000 after purchasing an additional 209 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Nexstar Media Group by 49.7% during the 4th quarter. Covestor Ltd now owns 949 shares of the company's stock worth $150,000 after purchasing an additional 315 shares during 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, insider Gary Weitman sold 424 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $175.53, for a total value of $74,424.72. Following the completion of the sale, the insider now owns 5,301 shares of the company's stock, valued at $930,484.53. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,000 shares of Nexstar Media Group stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $169.51, for a total transaction of $339,020.00. Following the transaction, the director now owns 4,975 shares in the company, valued at $843,312.25. The trade was a 28.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,558 shares of company stock worth $7,504,098. Company insiders own 6.70% of the company's stock.

Nexstar Media Group Trading Up 0.3%

Shares of NXST traded up $0.55 during trading hours on Thursday, hitting $171.28. The stock had a trading volume of 40,747 shares, compared to its average volume of 389,984. Nexstar Media Group, Inc. has a 12-month low of $141.66 and a 12-month high of $191.86. The firm has a market cap of $5.23 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.45 and a beta of 1.06. 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 company's fifty day simple moving average is $162.86 and its 200 day simple moving average is $162.16.

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

Nexstar Media Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Monday, May 19th. Nexstar Media Group's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $216.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Guggenheim boosted their price target on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Friday, February 28th. Finally, Barrington Research reiterated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $205.71.

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.