Bahl & Gaynor Inc. Has $437,000 Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Bahl & Gaynor Inc. trimmed its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 96.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,769 shares of the company's stock after selling 77,476 shares during the period. Bahl & Gaynor Inc.'s holdings in Nexstar Media Group were worth $437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Nexstar Media Group by 43.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,419 shares of the company's stock valued at $1,061,000 after purchasing an additional 1,951 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Nexstar Media Group by 137.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,373 shares of the company's stock worth $723,000 after buying an additional 2,533 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Nexstar Media Group by 159.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,987 shares of the company's stock valued at $1,651,000 after acquiring an additional 6,136 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Nexstar Media Group by 7.6% in the third quarter. QRG Capital Management Inc. now owns 4,532 shares of the company's stock valued at $749,000 after acquiring an additional 322 shares during the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Nexstar Media Group in the third quarter valued at about $265,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CFO Lee Ann Gliha sold 330 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $158.23, for a total value of $52,215.90. Following the transaction, the chief financial officer now directly owns 8,610 shares in the company, valued at approximately $1,362,360.30. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Perry A. Sook sold 35,205 shares of Nexstar Media Group stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $162.13, for a total transaction of $5,707,786.65. Following the completion of the sale, the chief executive officer now owns 674,694 shares of the company's stock, valued at $109,388,138.22. This trade represents a 4.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,830 shares of company stock valued at $26,391,128. Insiders own 6.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NXST shares. Loop Capital upgraded Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a research note on Wednesday. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Guggenheim increased their price target on shares of Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Benchmark boosted their price objective on shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $210.29.

Nexstar Media Group Stock Performance

NXST stock traded up $5.26 during midday trading on Friday, reaching $177.85. 609,979 shares of the company were exchanged, compared to its average volume of 371,909. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The business has a 50-day moving average price of $156.61 and a two-hundred day moving average price of $163.75. Nexstar Media Group, Inc. has a one year low of $146.04 and a one year high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68.

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

Nexstar Media Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $1.86 per share. The ex-dividend date was Wednesday, February 12th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. Nexstar Media Group's dividend payout ratio (DPR) is 34.56%.

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.