Penn Capital Management Company LLC Has $12.40 Million Stock Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

Penn Capital Management Company LLC cut its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,487 shares of the company's stock after selling 13,850 shares during the quarter. Penn Capital Management Company LLC owned about 0.25% of Nexstar Media Group worth $12,399,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Pinebridge Investments L.P. lifted its stake in shares of Nexstar Media Group by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 10,920 shares of the company's stock valued at $1,725,000 after buying an additional 3,267 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Nexstar Media Group by 1.8% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 206,107 shares of the company's stock worth $32,559,000 after purchasing an additional 3,581 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Nexstar Media Group by 4.6% in the fourth quarter. MetLife Investment Management LLC now owns 16,987 shares of the company's stock valued at $2,683,000 after purchasing an additional 747 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nexstar Media Group by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock worth $210,314,000 after purchasing an additional 4,704 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Nexstar Media Group by 36.1% in the 4th quarter. First Trust Advisors LP now owns 205,508 shares of the company's stock valued at $32,464,000 after buying an additional 54,559 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Nexstar Media Group Trading Down 1.5 %

Shares of NXST traded down $2.29 on Tuesday, reaching $150.08. 154,925 shares of the company's stock were exchanged, compared to its average volume of 373,241. The business has a 50 day moving average price of $163.15 and a two-hundred day moving average price of $163.05. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market capitalization of $4.58 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. Nexstar Media Group, Inc. has a 12 month low of $143.32 and a 12 month high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.22 by ($1.66). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current year.

Insider Transactions at Nexstar Media Group

In related news, CEO Perry A. Sook sold 32,096 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total transaction of $5,477,824.32. Following the sale, the chief executive officer now directly owns 806,019 shares in the company, valued at $137,563,262.73. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Alford sold 3,768 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.98, for a total value of $685,700.64. Following the transaction, the insider now directly owns 5,405 shares of the company's stock, valued at $983,601.90. This represents a 41.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock valued at $6,722,463 over the last three months. 6.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NXST. Barrington Research reiterated an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Loop Capital raised shares of Nexstar Media Group from a "hold" rating to a "buy" rating and upped their price objective for the stock from $190.00 to $200.00 in a research note on Friday, February 28th. StockNews.com cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Monday, March 10th. Finally, Benchmark boosted their price objective on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $208.43.

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.