John G Ullman & Associates Inc. Lowers Holdings in Nexstar Media Group, Inc. (NASDAQ:NXST)

John G Ullman & Associates Inc. lessened its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,343 shares of the company’s stock after selling 200 shares during the period. John G Ullman & Associates Inc. owned 0.09% of Nexstar Media Group worth $4,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in shares of Nexstar Media Group in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Nexstar Media Group in the 3rd quarter worth about $44,000. GAMMA Investing LLC raised its position in Nexstar Media Group by 112.2% in the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares during the period. Finally, Mascoma Wealth Management LLC bought a new position in shares of Nexstar Media Group during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NXST. Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Benchmark restated a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research note on Thursday, November 7th. Finally, Guggenheim lowered their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $198.50.

Insiders Place Their Bets

In related news, Director Charles Thomas Mcmillen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the sale, the director now owns 7,975 shares in the company, valued at $1,276,000. This represents a 11.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the 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 completion of the transaction, the chief executive officer now owns 674,694 shares in the company, valued at approximately $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,903 shares of company stock valued at $7,833,240. Insiders own 6.30% of the company’s stock.

Nexstar Media Group Price Performance

Shares of NXST opened at $166.83 on Thursday. The company has a 50 day moving average of $168.76 and a two-hundred day moving average of $167.14. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.20 and a beta of 1.48. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. Nexstar Media Group, Inc. has a twelve month low of $141.38 and a twelve month high of $191.86.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, November 7th. The company reported $5.27 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts predict that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 39.10%.

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.