Empowered Funds LLC Sells 3,356 Shares of Nexstar Media Group, Inc. (NASDAQ:NXST)

Empowered Funds LLC lowered its position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,507 shares of the company's stock after selling 3,356 shares during the quarter. Empowered Funds LLC owned approximately 0.07% of Nexstar Media Group worth $3,722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group during the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 259 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Nexstar Media Group in the third quarter valued at about $44,000. GAMMA Investing LLC lifted its stake in shares of Nexstar Media Group by 112.2% during the 2nd quarter. GAMMA Investing LLC now owns 295 shares of the company's stock worth $49,000 after buying an additional 156 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Nexstar Media Group during the 2nd quarter worth about $49,000. Institutional investors own 95.30% of the company's stock.

Nexstar Media Group Price Performance

Shares of NXST traded up $1.34 during trading hours on Tuesday, hitting $163.52. 306,529 shares of the company were exchanged, compared to its average volume of 329,721. 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 fifty-two week low of $141.38 and a fifty-two week high of $191.86. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 0.19 and a beta of 1.48. The firm's fifty day moving average is $168.64 and its 200 day moving average is $167.14.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, equities analysts anticipate that Nexstar Media Group, Inc. will post 24.53 earnings per share for the current fiscal year.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $6.76 annualized dividend and a yield of 4.13%. Nexstar Media Group's dividend payout ratio is currently 39.10%.

Insiders Place Their Bets

In related news, COO Michael Biard sold 2,458 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $169.28, for a total value of $416,090.24. Following the completion of the transaction, the chief operating officer now owns 3,792 shares of the company's stock, valued at $641,909.76. This represents a 39.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Perry A. Sook sold 12,239 shares of the business's stock in a transaction 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 directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,437 shares of company stock worth $8,429,561 over the last three months. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on NXST shares. Barrington Research reissued an "outperform" rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday, November 7th. Guggenheim lowered their target price on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a report on Friday, August 9th. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and decreased their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Finally, Benchmark reissued a "buy" rating and set a $215.00 target price on shares of Nexstar Media Group in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $198.50.

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.