Nexstar Media Group, Inc. (NASDAQ:NXST) Position Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 18.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,587 shares of the company’s stock after selling 4,951 shares during the quarter. Wedge Capital Management L L P NC owned 0.07% of Nexstar Media Group worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in shares of Nexstar Media Group by 632.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock worth $32,000 after purchasing an additional 177 shares in the last quarter. First United Bank & Trust bought a new position in shares of Nexstar Media Group during the 4th quarter worth about $33,000. SRS Capital Advisors Inc. increased its stake in Nexstar Media Group by 350.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the period. OLD Second National Bank of Aurora acquired a new position in shares of Nexstar Media Group in the fourth quarter valued at $45,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Nexstar Media Group by 41.1% in the 4th quarter. Quadrant Capital Group LLC now owns 295 shares of the company’s stock valued at $46,000 after buying an additional 86 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, EVP Blake Russell sold 433 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the transaction, the executive vice president now owns 25,537 shares of the company’s stock, valued at approximately $4,275,659.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Blake Russell sold 433 shares of Nexstar Media Group stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the completion of the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Thomas Mcmillen sold 1,475 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total transaction of $244,968.00. Following the transaction, the director now owns 6,175 shares in the company, valued at $1,025,544. The disclosure for this sale can be found here. Insiders sold a total of 7,810 shares of company stock valued at $1,235,704 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Nexstar Media Group Price Performance

Nexstar Media Group stock traded up $1.76 on Thursday, reaching $160.61. The company’s stock had a trading volume of 300,512 shares, compared to its average volume of 344,627. The business’s fifty day moving average price is $166.55 and its 200 day moving average price is $166.18. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.65 and a beta of 1.50. Nexstar Media Group, Inc. has a twelve month low of $132.30 and a twelve month high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $2.64 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Nexstar Media Group, Inc. will post 27.62 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $1.69 per share. The ex-dividend date is Friday, August 9th. This represents a $6.76 annualized dividend and a dividend yield of 4.21%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, August 8th. Loop Capital upgraded Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nexstar Media Group presently has a consensus rating of “Moderate Buy” and an average price target of $201.67.

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.