Mascoma Wealth Management LLC Lowers Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

Mascoma Wealth Management LLC lessened its stake in Nexstar Media Group, Inc. (NASDAQ:NXST) by 31.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165 shares of the company’s stock after selling 75 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Nexstar Media Group were worth $26,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in 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 valued at $190,650,000 after buying an additional 1,202,453 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Nexstar Media Group in the fourth quarter valued at approximately $35,560,000. Raymond James Financial Inc. purchased a new stake in shares of Nexstar Media Group during the fourth quarter valued at approximately $8,402,000. Payden & Rygel lifted its holdings in Nexstar Media Group by 40.4% during the third quarter. Payden & Rygel now owns 110,200 shares of the company’s stock worth $18,222,000 after acquiring an additional 31,700 shares during the period. Finally, World Investment Advisors LLC purchased a new position in Nexstar Media Group in the third quarter worth $3,747,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $159.93, for a total value of $119,947.50. Following the completion of the transaction, the director now directly owns 6,975 shares of the company’s stock, valued at $1,115,511.75. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gary Weitman sold 1,241 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $177.21, for a total transaction of $219,917.61. Following the transaction, the insider now owns 3,975 shares of the company’s stock, valued at $704,409.75. This trade represents a 23.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 161,455 shares of company stock valued at $26,158,403 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $168.55 on Friday. Nexstar Media Group, Inc. has a 12 month low of $146.04 and a 12 month high of $191.86. The stock has a market capitalization of $5.14 billion, a P/E ratio of 9.75, a PEG ratio of 0.45 and a beta of 1.47. 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 firm’s 50 day moving average is $157.45 and its 200 day moving average is $163.80.

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

Nexstar Media Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $1.86 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.41%. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s dividend payout ratio (DPR) is currently 34.56%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NXST. Loop Capital raised Nexstar Media Group from a “hold” rating to a “buy” rating and raised their target price for the company from $190.00 to $200.00 in a research report on Friday, February 28th. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of Nexstar Media Group in a report on Monday. StockNews.com cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Finally, Guggenheim lifted their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Nexstar Media Group currently has an average rating of “Moderate Buy” and an average target price 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.