Fmr LLC Trims Stock Position in Nexstar Media Group, Inc. (NASDAQ:NXST)

FMR LLC reduced its stake in shares of Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) by 9.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,176,167 shares of the company's stock after selling 119,096 shares during the period. FMR LLC owned about 3.79% of Nexstar Media Group worth $194,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its position in shares of Nexstar Media Group by 8.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,378 shares of the company's stock valued at $410,000 after acquiring an additional 188 shares during the last quarter. GAMMA Investing LLC grew its holdings in Nexstar Media Group by 112.2% during the second quarter. GAMMA Investing LLC now owns 295 shares of the company's stock valued at $49,000 after purchasing an additional 156 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Nexstar Media Group by 299.1% during the second quarter. Harbor Capital Advisors Inc. now owns 3,851 shares of the company's stock valued at $639,000 after purchasing an additional 2,886 shares during the period. CWM LLC grew its holdings in Nexstar Media Group by 60.7% during the second quarter. CWM LLC now owns 1,178 shares of the company's stock valued at $196,000 after purchasing an additional 445 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in Nexstar Media Group by 3.0% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,704 shares of the company's stock valued at $781,000 after purchasing an additional 138 shares during the period. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NXST shares. Loop Capital lowered Nexstar Media Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $200.00 to $190.00 in a report on Friday, November 8th. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Nexstar Media Group in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Wells Fargo & Company dropped their price objective on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Finally, StockNews.com raised Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Nexstar Media Group currently has a consensus rating of "Moderate Buy" and an average price target of $198.50.

Nexstar Media Group Stock Down 1.5 %

Nexstar Media Group stock traded down $2.61 during trading hours on Tuesday, hitting $170.55. 98,879 shares of the stock traded hands, compared to its average volume of 326,912. The firm's 50-day moving average price is $169.46 and its two-hundred day moving average price is $167.01. 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 company has a market cap of $5.29 billion, a PE ratio of 10.02, a PEG ratio of 0.20 and a beta of 1.45. Nexstar Media Group, Inc. has a one year low of $141.38 and a one year high of $191.86.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its quarterly earnings data 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 net margin of 11.39% and a return on equity of 26.03%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business's revenue was up 20.7% compared to the same quarter last year. On average, research analysts forecast that Nexstar Media Group, Inc. will post 24.53 EPS for the current year.

Nexstar Media Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $1.69 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.96%. Nexstar Media Group's dividend payout ratio is currently 39.10%.

Insider Transactions at Nexstar Media Group

In other Nexstar Media Group news, insider Brett Jenkins sold 4,331 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $170.64, for a total transaction of $739,041.84. Following the completion of the sale, the insider now directly owns 25,540 shares in the company, valued at approximately $4,358,145.60. The trade was a 14.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Alford sold 3,175 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares of the company's stock, valued at $1,539,412.86. This trade represents a 25.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,423 shares of company stock valued at $7,916,739 in the last ninety days. 6.30% of the stock is currently owned by corporate insiders.

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.