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

Phocas Financial Corp. reduced its position in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,410 shares of the company’s stock after selling 3,077 shares during the period. Phocas Financial Corp. owned about 0.15% of Nexstar Media Group worth $8,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Nexstar Media Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,370,415 shares of the company’s stock valued at $580,689,000 after acquiring an additional 127,783 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Nexstar Media Group during the 2nd quarter worth $570,000. GSA Capital Partners LLP increased its stake in Nexstar Media Group by 211.2% in the third quarter. GSA Capital Partners LLP now owns 6,195 shares of the company’s stock valued at $1,024,000 after purchasing an additional 4,204 shares during the period. Bessemer Group Inc. increased its stake in Nexstar Media Group by 24.3% in the first quarter. Bessemer Group Inc. now owns 81,875 shares of the company’s stock valued at $14,106,000 after purchasing an additional 15,982 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Nexstar Media Group by 72.0% in the second quarter. AQR Capital Management LLC now owns 199,811 shares of the company’s stock valued at $32,769,000 after buying an additional 83,637 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NXST. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. StockNews.com raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Loop Capital lowered Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Stock Up 0.2 %

Shares of Nexstar Media Group stock opened at $162.18 on Tuesday. Nexstar Media Group, Inc. has a twelve month low of $141.38 and a twelve month high of $191.86. The company has a fifty day moving average price of $168.61 and a 200 day moving average price of $167.16. 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 cap of $5.03 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing the consensus estimate of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $0.70 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. Equities research analysts forecast that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.17%. Nexstar Media Group’s payout ratio is currently 39.10%.

Insider Activity

In other Nexstar Media Group news, EVP Michael Strober sold 1,076 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.50, for a total value of $180,230.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now owns 674,694 shares of the company’s stock, valued at $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,437 shares of company stock valued at $8,429,561. 6.30% of the stock is currently owned by insiders.

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.