Capital Research Global Investors Decreases Stake in Nexstar Media Group, Inc. (NASDAQ:NXST)

Capital Research Global Investors trimmed its holdings in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 382,640 shares of the company's stock after selling 227,483 shares during the period. Capital Research Global Investors owned 1.23% of Nexstar Media Group worth $60,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in shares of Nexstar Media Group by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,331,355 shares of the company's stock valued at $210,314,000 after purchasing an additional 4,704 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Nexstar Media Group by 27,180.2% during 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. Charles Schwab Investment Management Inc. increased its position in Nexstar Media Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,102,126 shares of the company's stock worth $174,103,000 after buying an additional 18,675 shares in the last quarter. Demars Financial Group LLC increased its position in Nexstar Media Group by 16,009.5% during the fourth quarter. Demars Financial Group LLC now owns 773,737 shares of the company's stock worth $122,227,000 after buying an additional 768,934 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Nexstar Media Group by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 403,728 shares of the company's stock worth $63,777,000 after acquiring an additional 19,116 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NXST. StockNews.com downgraded shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, March 5th. Guggenheim raised their target price on shares of Nexstar Media Group from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Benchmark increased their price target on Nexstar Media Group from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $190.00 to $200.00 in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.43.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, insider Gary Weitman sold 1,241 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 in the company, valued at $704,409.75. The trade was a 23.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Perry A. Sook sold 32,096 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $170.67, for a total value of $5,477,824.32. Following the completion of the sale, the chief executive officer now owns 806,019 shares of the company's stock, valued at approximately $137,563,262.73. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,105 shares of company stock valued at $6,722,463 over the last ninety days. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Trading Up 0.8 %

Shares of NXST stock traded up $1.16 on Friday, reaching $152.12. 220,615 shares of the stock were exchanged, compared to its average volume of 372,611. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The stock has a market cap of $4.64 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. The firm has a 50 day moving average of $163.24 and a two-hundred day moving average of $163.29. Nexstar Media Group, Inc. has a 1-year low of $143.32 and a 1-year high of $191.86.

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 the consensus estimate of $9.22 by ($1.66). The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. On average, research analysts anticipate that Nexstar Media Group, Inc. will post 21.62 EPS for the current year.

Nexstar Media Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $1.86 dividend. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a yield of 4.89%. Nexstar Media Group's dividend payout ratio (DPR) is presently 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.